For the past years, Iran has made minimal but essential economic progress in Ghana, but much has not been written on its economic inroads in Ghana. This paper seeks to review bilateral relations between Iran and Ghana. Particularly the study concentrates on bilateral trade, Iran’s foreign direct investments in Ghana, and also Iran’s soft power activities in Ghana. To be more exact, the study will review Iran’s contribution towards Ghana’s socio-economic development over the years in both the education and health sectors.