The main purposes of this study were to: Investigate agricultural budget as a portion of Gross National Production (GNP) in Iran and world, determine of Benefit- Cost Ratio and internal rate of return in improved varieties of irrigated wheat crop (Mahdavi, Niknejad, Atrak, Tajan, Alamoot, Zarrin, Alvand, Darab2, Marvdasht, Kavir, Chamran and Shiroodi), that, carried out at cereal research department in 2000. In this study for assessment of investment economic efficiency in varieties production used Benefit- cost Ratio and Internal rate of return, of course, the total costs and benefit change to present value and economic rate of return with discount rate 18.5% are estimated. Results showed that: With official and floating exchange rate, benefit-cost ratio for improved varieties of bread wheat was estimated 25.8 and 22 units. The cost of research and net present value of substitution in studied varieties were estimated 39300 and 2401700 million rials, respectively. Investment rate of return in new varieties of irrigated wheat crop were estimated 77.8 and 75.2 percent, respectively. Varieties production activity of bread wheat was economical, because, rate of return estimated more than discount rate (18.5%). With official exchange rate, investment rate of return for Mahdavi, Niknejad, Atrak, Tajan, Alamoot, Zarrin, Alvand, Darab2, Marvdasht, Kavir, Chamran and Shiroodi varieties of wheat were estimated 61.7, 55.3, 91.5, 137.3, 68.4, 53.1, 70.2, 35.6, 69.2, 55.5, 192.3 and 159 percent, respectively. With floating exchange rate, investment rate of return for Mahdavi, Niknejad, Atrak, Tajan, Alamoot, Zarrin, Alvand, Darab2, Marvdasht, Kavir, Chamran and Shiroodi varieties were estimated 55.2, 50, 83.9, 129.2, 61.4, 48.6, 62.4 , 28.5, 68.1, 49.5, 185.9 and 152.7 percent, respectively. Varieties production activity of bread wheat was economic. Because, Rate of return estimated more than opportunity cost of capital (18.5%).