Introduction: Ethical governance means the exercise of power and sovereignty along with moral values and adherence to divine and human virtues. The purpose of this research is to evaluate the model of Ethical governance components based on social Capital. Material & Methods: The current research is one of the quantitative researches that was conducted by descriptive and correlation method. The statistical population of this research included employees and personnel and internal managers of gas industries in South Pars region, 384 people were selected as a sample. The research tool was a standard questionnaire. Data analysis was done using Pearson correlation. Results: Based on correlation coefficients, it was determined that the components of Ethical governance include efficiency and effectiveness, impartiality and fairness, public satisfaction, accountability, rule of law, strategic perspective, accountability, role promotion, justice, distributive policy, capacity building, professional ethics, economic management, social development, government-centeredness, citizens' participation, legal reforms, anti-corruption, transparency, participation, predictability, accountability have a positive and significant relationship with social Capital. Conclusion: The main core of governance, especially in the Islamic perspective, is to observe the strong role of ethics in the governance of society. It is through Ethical governance that the social Capital of the organization becomes efficient and plays its constructive role in the welfare of the society.