The dispute resolution mechanism of economic and trade cooperation between China, Mongolia and Russia is a kind of dispute resolution mechanism specially used to solve the disputes of economic and trade cooperation between China, Mongolia and Russia. It is not only has the practical necessity, but also has the political and legal feasibility. The main problems of the dispute resolution mechanism are that the dispute resolution methods are too scattered, the dispute resolution basis is too old, and the cohesion and effectiveness of the dispute resolution methods are poor. Under the guidance of the concept of "coordinated development, win-win and mutual benefit, fair procedure, inclusiveness and harmony", it is reasonable to build a dispute resolution mechanism of economic and trade cooperation between China, Mongolia and Russia, which covers the way of political diplomacy and judicial characteristics. Specifically, the dispute resolution mechanism needs to establish special dispute resolution institutions, unified applicable rules, diversified dispute resolution procedures and sound supporting systems.