Abstarct: This research deals with the increasing importance of optimal investment selection, especially in the field of mutual funds. Its focus is on the use of Intuitionistic Fuzzy Analytic Hierarchy process (IFAHP) to rank mutual funds in Tehran Stock Exchange. This approach considers both quantitative and qualitative aspects and provides valuable insights for investors and financial decision makers. By evaluating factors such as size, performance and other related criteria, this study aims to contribute to the understanding of investment decision-making, especially in the field of mutual funds. The use of multi-criteria decision-making techniques in the evaluation of mutual funds in the Tehran Stock Exchange has significant consequences for the investment community. By integrating the theory of intuitionistic fuzzy sets and multi-criteria decision making, this study seeks to provide a comprehensive approach to choosing the right mutual fund, which ultimately benefits investors and financial decision makers. Therefore, in this research, twenty of the largest equity mutual funds have been selected and the process of IFAHP has been used to evaluate and prioritize them baxsed on their performance rating. The results of this study are expected to clarify the complexities of investment decision-making and provide valuable insight to individuals and organizations involved in the investment process as well as mutual fund managers.