This article tries to examine the changing dynamics of Turkey's relations with Israel in recent years from a structural realist point of view. The main argument is that both the establishment of strong strategic relations during the 1990s and the growing tension in recent years could be convincingly analysed through a structural realist perspective that mainly values systemic and exogenous factors in explanation of states' foreign policy preferences and behaviours. The major goal is to complement domestic and identity-related factors with structural ones in order to have a better understanding of the changing nature of bilateral relations over the last decade.