Peacebuilding has become a guiding principle of international intervention in the periphery since its inclusion in the Agenda for Peace of the United Nations in 1992. The aim of creating the conditions for a self-sustaining peace in order to prevent a return to armed conflict is, however, far from easy or consensual. The conception of liberal peace proved particularly limited, and inevitably controversial, and the reality of war-torn societies far more complex than anticipated by international actors that today assume activities in the promotion of peace in post-conflict contexts. With a trajectory full of contested successes and some glaring failures, the current model has been the target of harsh criticism and widespread scepticism. This article critically examines the theoretical background and practicalities of peacebuilding, exploring its ambition as well as the weaknesses of the paradigm adopted by the international community since the 1990s.