The purpose of this research was to examine the multivariate determination of the relationship between strategic management process and intellectual capital components at Isfahan state universities. The research questions were examined while considering strategic management process and intellectual capital components. The research method was descriptive, correlation type. The statistical population consisted of 1,472 faculty members of Isfahan state universities in the academic year 89-90. 64, 90 and 51 faculty members were chosen through stratified random sampling from Isfahan University, Medical Science University and Industrial University, respectively. The information gathering tools were strategic management process and intellectual capital component questionnaires with 67 and 35 items respectively. Through the use of Cronbach alpha coefficient, reliability coefficient of 0/85 was obtained for the strategic management questionnaire and 0/93 for the intellectual capital component questionnaire. The analysis of data was performed at two levels: descriptive statistics (frequency, percentage, mean and standard deviation) and inferential one statistics (Regression and Manova and Structural Model).The findings revealed that there is a positive relationship between the strategy formulation, strategy implementation, and strategy evaluation with human capital and structural capital but there isn’t a positive relationship between the strategy formulation, strategy implementation, and strategy evaluation with customer capital. The findings further revealed that there are significant and positive relationships between strategy formulation and strategy evaluation with all intellectual capital components, but the strategy implementation and intellectual capital component relation was not significant. On the whole the effect of strategic management process on intellectual capital component was significant (Gamma: 0/91).