The world population is ageing as a consequence of demographic changes: the number of older persons will double from its current number of about one billion people to two billion by 2050. Iran is no exception in this respect as its population of older persons would reach approximately 29 million by 2050. This speed of ageing categorizes Iran as a fast ageing society, emphasizing the need for adopting comprehensive policies and interventions to address issues related to older ages. To this end, constructing monitoring instruments will facilitate evidence-informed policymaking. One such recently developed instrument is the Global AgeWatch Index (GAWI) which consists of four domains and 13 indicators, namely Income Security, Health Status, Capability and Enabling Environment. This paper constructed GAWI to measure well-being for older people in Iran and determine the country’s relative position in comparison to 96 other countries included in the latest estimates of the GAWI. The results show that Iran shares the 75th rank with the neighbouring Turkey out of the total of 97 countries covered by the Index. For Iran, domains of Health Status hold a relatively higher rank and the Capability and Enabling Environment being at the lowest rank.