This article interrogates the potential role of the ICC in the Israeli- Palestinian context as a function of the relationship between international criminal justice and the maintenance of peace. It argues that the Palestine situation presents the ICC with a critical opportunity to redress its 'crises' of effectiveness and legitimacy. The risks of an ICC intervention for the Palestinian population and for the Court may have been underappreciated. However, the Court's reluctance to open an investigation in the Palestine situation, and missed opportunities during the deliberation of Palestine's 2009 declaration requesting jurisdiction, have undermined its institutional integrity and contributed to the waning of its standing as an enforcer of international law. This contribution concludes that the ICC's potential to deter international crimes in the Israeli-Palestinian context is limited, and the Court needs a 'Palestine situation' more than the Palestine needs the ICC.