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Submitted paper analyses the main aspects of the political development of Bosnia and Herzegovina after signature of Dayton Peace Agreement in 1995. Main goal of the post-conflict reconstruction of Bosnia and Herzegovina was to achieve future political stability within political system were will be introduced consociational mechanisms and power-sharing mechanisms avoiding exclusion of the political representatives of one of the constitutional nations from decision-making process and to enforce stronger cooperation among political elites. Political system was proceeding from Annex IV of Dayton Peace Agreement, which was approved by the main political actors in Bosnia and Herzegovina but also by neighbouring Croatia and Federal Republic of Yugoslavia. Both political elites of Croatia and Federal Republic of Yugoslavia had their own political goals, which also resulted in adoption of a very complicated political system and inevitability of further international assistance in order to retain political stability. The main goal of the article is to show the most important problems leading from the political system and to analyse the importance of the role of the Office of High Representative for Bosnia and Herzegovina it plays in order to achieve political stability.