The Islamic Republic of Iran's economic relations with the Persian Gulf states, especially Oman, have not been at a high level, despite their potential. The lack of economic cohesion between Iran and its neighbors has made the atmosphere of interaction, competition or even hostility. This potential loss of cooperation between the Islamic Republic of Iran and the Oman monarchy could be wasted. The existence of economic solidarity and cooperation between the two governments of Iran and Oman, in addition to the benefits it can have for both parties, can in the long run be a good model for other neighbors to expand economic cooperation and consequently political and security. This increased level of cooperation, based on economic cooperation, can in the long run promise a safer and less stressful region. Considering their economic, political and security needs, Iran and Oman should enhance their relations, especially in the economic sector, and take advantage of the development opportunities they face to work together. This article seeks to identify the most important potentials for enhancing economic cooperation between Iran and Oman and to explain the theoretical and practical function of increasing economic cooperation between the two countries.