Entering into SCO as a permanent member in September, 2021, Iran is focusing on new economic and strategic goals. Damaged economy and strategic setbacks, due to US sanctions, Iran has focused on the multiregional support for the strategic and economic takeaways. Iran joined SCO as observer and seated permanently after the struggle of fifteen years. China and Russia at leading positions, Eurasian States with rich resources and Pakistan and India as permanent members, Iran also wants to avail the opportunities as a permanent member of the SCO. The Focused objectives of the article were to explore strategic and economic opportunities and possible challenges for Iran at SCO. The qualitative methodology has been applied to conduct the current study. The present article concludes that SCO may bring huge economic and strategic opportunities for Iran. SCO member states can help Iran coming out of economic depression and providing chances to gain strategic benefits in the region. The article further concludes that US sanctions and some security concerns about Tehran may create some challenges for Iran on the way forward with SCO. Tehran should increase its ties with the SCO bloc and workout wisely on its foreign policy to get maximum benefits from the member states of the organization.