Arctic circle has become a focal point of geopolitical competition due to climate change, resource exploitation and emerging strategic interests. Arctic Nations- Russia, United States, Canada, Denmark and Norway are actively competing on regional claims, military dominance and economic occasions. Meanwhile, non-Arctic states such as China, India and Bangladesh are expanding their participation due to economic, environmental and strategic concerns. This study examines the underlying geopolitical stresses, evaluates policies of the Arctic and non-Arctic states, and assesses economic and security implications. Using a qualitative research approach, this paper highlights how Arctic geo -strategy can change the dynamics of global power.