The primary objective of the article is to present the prospects for reform of the European Union’s immigration, external border control and asylum policies, after previous attempts at such reform between 2015 and 2020 failed. The first part of the article provides a politico-legal analysis of the so-called New Pact on Migration and Asylum announced by the European Commission on 23 September 2020, while the second part presents the balance of legislative work on the pact so far in the period 2020–2023. The analysis is essentially limited to the legal situation as of 20 June 2023. The author formulates two research hypotheses. The first hypothesis is that the European Commission’s so-called New Pact on Migration and Asylum is, in essence, not a new legislative package at all, as the vast majority of the legislative proposals it contains are drafts from 2016 and 2018. The second hypothesis is based on the assumption that the refugee and humanitarian crisis in Ukraine in the years 2022–2023 had essentially no influence on the legislative process of the so-called New Pact on Migration and Asylum. The author then asks three research questions. First, which provisions of the pact on migration and asylum introduced new elements into the reform process of the EU’s immigration, external border control and asylum policies? Second, why did the refugee and humanitarian crisis in Ukraine in 2022–2023 not have a major impact on the legislative process on the pact? Third, what has been the track record of the 2020–2023 reform so far?