This study aims to evaluate the productivity (efficiency and effectiveness) of the selected Islamic Interest-Free Banking System Banks of the Islamic Republic of Iran. The present research is developmental as well as its data have been collected based on analytical-descriptive method. The article is documentary, library and questionnaire-based survey. Productivity of Iranian selected banks was evaluated through using Data Envelopment Analysis (DEA) Approach on two scenarios (output of Value Added and output of total revenue) during 2014-2015. Results of the study show that a combined approach (a combination of brokerage and productive approaches) was selected to identify inputs and outputs of the Islamic banks. According to the results of the first scenario (output of total revenue), five banks were identified as efficient selective banks in 2015. But in 2014, only three banks could be categorized among efficient banks. But regarding the second scenario, these figures were reduced to three banks and even the one in 2015 and 2014 respectively. Consequently, it is noteworthy to highlight that changing banks’ ؛ output from total revenue to VA will be led to improve their productivity.