The Alpha Magnetic Spectrometer experiment is realized in two phases. A precursor flight (STS-91)with a reduced experimental configuration (AMS01) has successfully flown on space shuttle Discovery in June 1998.The final version (AMS02) will be installed on the International Space Station (ISS) as an independent module inearly 2006 for an operational period of three years. The main scientific objectives of AMS02 include the searches forthe antimatter and dark matter in cosmic rays. In this work we will discuss the experimental details as well as the im-proved physics capabilities of AMS02 on ISS.