Abstract: Development of labor relations after social transformation in Slovenia can be divided into three stage, reflecting the interaction among the stakeholders such as political parties, trade unions and employer organizations. Based on the stakeholder perspective, this article analyzes the challenges and roles of the social dialogue mechanism in the Slovenian labor relations system. It is found that in the early period of the social system transformation, the social dialogue mechanism played a strong role in the development of labor relations in Slovenia. Since the financial crisis, the system had showed a liberal tendency, and it had been hard to restore the original social dialogue mechanism.