This article examines the processes of nationalization of party systems in Latin America. The analysis demonstrates that the evolution of party systems, resulting in various degrees of nationalization, is quite different for every country and follows separate paths. In this regard, an analysis of possible political, social and economic factors influencing nationalization is carried out. However, it is not possible to identify a clear connection between democratization and nationalization, which distinguishes Latin America from Western democracies. An analysis of country cases based on materials and authors’ assessments of elections in the 21st century does not allow to speak about any correlation that may be expected between the improvement in the democracy indicators and the growth in the level of nationalization. At the same time, there are clear problems with the institutionalization of parties, which have exacerbated in recent decades due to the crisis of many old players and the emergence of new parties and coalitions, which makes Latin American politics even more turbulent. Among all the factors, the article studies ethnic and racial diversity which has a most significant impact on the volatility and regional variety of voting patterns. It is noteworthy that social stratification does not have a sufficient effect on the processes of nationalization, despite the fact that in many states it turns into a noticeable polarization of rich and poor regions. The authors conclude that the processes of democratization in Latin America are neither long-term nor strong enough to achieve a sustainable degree of nationalization of the party systems. An obstacle to this is the complex ethnic and racial structure of Latin American societies, which also leads to the emergence of deviant regions with their own specific voting patterns.