The history of financial crises dates back to the financial markets. Different dates have been identified as the financial crises date of occurrence in various exchanges around the world; this is while no research has been carried out in this regard in Iran so far. Therefore, according to the methodology of Olbrys and Majewska (2014) and considering the inflation factor, regardless of the type and possible causes of financial crises, the periods of financial crises in the Tehran Stock Exchange between years 2001 to 2017 were determined in a direct manner. Based on the results of this study, Tehran Stock Exchange has experienced two periods of financial crisis during 2008 and 2015. Also, by comparing the timing of the crises with the crises of the eight European and American countries[1], it became clear that only part of the period of the initial crisis of the Tehran Stock Exchange was shared with them, and the second one has no isochronism with these countries.