Since its establishment in 1989, the Asia-Pacific Economic Cooperation (APEC) has developed over 30 years under profound international political and economic background. Therefore, this study carried out an international political and economic analysis on the changes of the Asia-Pacific economic cooperation mechanism from the perspective of economics and international relations. According to the results, diverse economies, politics, and the cultures of Asia-Pacific countries determine the long and complex process of the Asia-Pacific economic cooperation to a certain extent. With the coexistence of multiple mechanisms and competitive cooperation, its future development trend mainly depends on the benefit game among main participants and the actual development needs of the Asia-Pacific region.