Today, some economists consider the relation between efficiency and justice when they want to analyze the effects of an economic policy. They interest to know if the two aims are accompanied with each other or not.On the other hand, in utilizing exhaustible resources, including crude oil and natural gas, there are two important questions. First question is about optimal resource extraction and optimal utilizing its revenues. But the second inquires the intergenerational justice or fairness conditions.In this respect, the paper tries to explain the relation between the intergenerational justice policy in utilizing crude oil and natural gas revenues and the welfare level of society over time applying an overlapping generations model for Iran economy.Finally, the model shows that the consumption level of households and also their leisure will be increased if the government respects the intergenerational justice policy and as a result, the welfare level of society will be improved in long run.