On 3 October 2014, when the Social Democratic leader Stefan Löfven became Prime Minister, Wallström was appointed to the Swedish government as Minister of Foreign Affairs.

On 30 October 2014, Wallström became the first EU foreign minister to recognise the State of Palestine, with a view to "facilitate a peace agreement by making the parties less unequal"; as a result, Israel the same day recalled its ambassador for consultations.
Although a visit by Wallström to Israel had been planned for January 2015, Israel's foreign minister Avigdor Lieberman and prime minister Benjamin Netanyahu declined to receive her.
Wallström's diplomatic immunity status in Israel was also revoked which meant that if she visited Israel she would do as an individual rather than an official of a foreign state, which would normally mean enjoying protection by security services.
In a March 2018 interview, she stated that the intent behind the recognition was to speed up the process towards a Two-state solution but also admitted that no progress on that issue had been made.

In December 2014, Wallström called in the Russian ambassador to Sweden, Victor Ivanovitj Tatarintsev, over the behaviour of a Russian military jet which Swedish authorities said had caused an SAS flight from Copenhagen to Poznan, Poland, to change course off southern Sweden; the incident inflamed sensitivities over Russian flights in the Nordic region, driven in part by tensions over separatism in eastern Ukraine.
On 11 September 2015, she again summoned Russia's ambassador to explain comments from the Russian foreign ministry warning of "consequences" if Sweden joins NATO.

In January 2015, Wallström tweeted criticism of Saudi Arabia's flogging of human rights activist blogger Raif Badawi, calling it a "cruel attempt to silence modern forms of expression".

In May 2015, United Nations Secretary-General Ban Ki-moon appointed Wallström as member of the High-Level Panel on Humanitarian Financing, an initiative aimed at preparing recommendations for the 2016 World Humanitarian Summit.

One of Wallström's main foreign policy goals was to secure one of the non-permanent seats for Sweden on the UN Security Council in the 2016 elections.
This was achieved on 28 June 2016.

In December 2016 Wallström received the Grand Star of the Order of Jerusalem from President of the State of Palestine Mahmoud Abbas.

In February 2018, Wallström cancelled her visit to Turkey that was due in two weeks to protest the Turkish invasion of northern Syria aimed at ousting U.S.-backed Syrian Kurds from the enclave of Afrin.

In December 2018 Wallström met with Iranian deputy foreign minister Abbas Araghchi in her office, a meeting which was unannounced by the Swedish Ministry for Foreign Affairs.
On 3 October 2014, when the Social Democratic leader Stefan Löfven became Prime Minister, Wallström was appointed to the Swedish government as Minister of Foreign Affairs.
On 30 October 2014, Wallström became the first EU foreign minister to recognise the State of Palestine, with a view to "facilitate a peace agreement by making the parties less unequal"; as a result, Israel the same day recalled its ambassador for consultations. Although a visit by Wallström to Israel had been planned for January 2015, Israel's foreign minister Avigdor Lieberman and prime minister Benjamin Netanyahu declined to receive her. Wallström's diplomatic immunity status in Israel was also revoked which meant that if she visited Israel she would do as an individual rather than an official of a foreign state, which would normally mean enjoying protection by security services. In a March 2018 interview, she stated that the intent behind the recognition was to speed up the process towards a Two-state solution but also admitted that no progress on that issue had been made.
In December 2014, Wallström called in the Russian ambassador to Sweden, Victor Ivanovitj Tatarintsev, over the behaviour of a Russian military jet which Swedish authorities said had caused an SAS flight from Copenhagen to Poznan, Poland, to change course off southern Sweden; the incident inflamed sensitivities over Russian flights in the Nordic region, driven in part by tensions over separatism in eastern Ukraine. On 11 September 2015, she again summoned Russia's ambassador to explain comments from the Russian foreign ministry warning of "consequences" if Sweden joins NATO.
In January 2015, Wallström tweeted criticism of Saudi Arabia's flogging of human rights activist blogger Raif Badawi, calling it a "cruel attempt to silence modern forms of expression".
In May 2015, United Nations Secretary-General Ban Ki-moon appointed Wallström as member of the High-Level Panel on Humanitarian Financing, an initiative aimed at preparing recommendations for the 2016 World Humanitarian Summit.
One of Wallström's main foreign policy goals was to secure one of the non-permanent seats for Sweden on the UN Security Council in the 2016 elections. This was achieved on 28 June 2016.
In December 2016 Wallström received the Grand Star of the Order of Jerusalem from President of the State of Palestine Mahmoud Abbas.
In February 2018, Wallström cancelled her visit to Turkey that was due in two weeks to protest the Turkish invasion of northern Syria aimed at ousting U.S.-backed Syrian Kurds from the enclave of Afrin.
In December 2018 Wallström met with Iranian deputy foreign minister Abbas Araghchi in her office, a meeting which was unannounced by the Swedish Ministry for Foreign Affairs.
Margot Wallström