With the Persian Gulf oil supplies remaining as vital as ever to the global economy, the quest for reliable security in this region has never been more important than it is now or for the near and distant future. Roughly 25 percent of the world's oil production originates from the Persian Gulf. It holds as much as two-thirds of the world's oil reserves, and its oil is exceptionally economical to produce. This region, with approximately 622,000 million barrels of crude oil, is the world's most important oil storage area and reservoir. The paper seeks, as its main research question, to propose a general framework that describes the security system of the Persian Gulf, which is currently undergoing a gradual and pragmatic transition, particularly in the near future. Any assessment of new power configurations in the Persian Gulf should cover a range of factors influenced by the political systems of the regional countries and the policies of neighboring and extra-regional powers. Our research methodology relies on a descriptive–analytical approach, and we analyze the data by referring to documents and expert opinions. The proposed idea of a “(Persian) Gulf Security Council” aims to establish a cooperative, viable, and robust regional security framework for the Persian Gulf, composed exclusively of regional states, with observer members drawn from neighboring and trans-regional actors, with the objective of fostering stability, conflict resolution, and security cooperation.