The article covers the history of founding the Shanghai Cooperation Organization, the interaction of Iran and this organization, as well as the prospects and benefits that Iran will receive if it joins it. The author supposes that if such a union happens, among the advantages and benefits of Iran in foreign policy there will be overcoming of isolation on the international arena, the ability to successfully resist the Western pressure, strengthening of peace, security and good neighborliness in the vast region of Eurasia, as well as intensifying of political and economic relations with the culturally close states of Central and South Asia. Furthermore, Iran’s entry into the organization will bring about its economic stabilization: Iran will have the opportunity to increase exports of its main source of income - oil, and begin to actively export its goods to the member countries of the Shanghai Cooperation Organization. This will lead to a significant increase in the standard of living within Iran, as well as to an increase in its economic power, and therefore to its political weight in the region and the world.