The subject of this article is “Shanghai Cooperation Organization and the Future of the Islamic Republic or Iran’s Role”. In introduction it is referred that the Shanghai Cooperation Organization (SCO) was founded in 1996. Its development thus far is also discussed. Two contemporary great powers, Russia and China, founded SCO to combat terrorism and develop economical relations with Central Asia. At the St.Petersburg declaration, they showed their aspiration for accepting new members. The set-up of SCO is composed of seven bodies, five of which are temporary and two permanent. Regarding the political and economic potential of the Islamic Republic of Iran, this country can join the SCO and make its principles of foreign relation compatible with this organization. Negation of U.S presence, mutual economic benefit, the use of “Liberum Veto” by Russia and China in the Security Council of the U.N., and appeasing Islamic fundamentalism are common interests.The rejection of Iran from accession to the World Trade Organization (WTO) and lack of a mutual definition of Islamic fundamentalism are obstacles. But this article puts stress on development of relations with regard to these considerations.