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This article mainly looks at theoretical approaches in international political economy and their claims regarding US global hegemonic power. These approaches have different theoretical assumption about the concept of hegemony, and therefore they assess the United States global hegemony in different ways. These approaches regarding the US global hegemonic power are divided into two schools: declinist school and anti-declinsit school. The former assumes that the United States is in relative decline because it has economic rivals. The latter, however, argues that the US is still a global hegemonic power because it enjoys a structural power. This research strongly supports the latter approach, and therefore argues that the US is still a global hegemonic power.