Following a two-month congress between the Ottoman Empire on one side and the Holy League, a coalition of various European powers including Austria-Hungary, Poland, Venice and Russia, a treaty was signed on January 26, 1699. The Ottomans ceded most of Hungary, Transylvania and Slavonia to Austria while Podolia passed to Poland. Most of Dalmatia passed to Venice, along with the Morea (the Peloponnesus peninsula) which the Ottomans restored in the Treaty of Passarowitz of 1718.
The Treaty of Karlowitz marks the end of the Ottoman expansion westward into Europe and makes Austria-Hungary the dominant power in the southeastern Europe.