This research article is concerned with the conceptual clarification of story and the wisdom of knowledge, considering their relationship with history, thought, philosophy, old knowledge and modern knowledge. It also explains the reason why "story and wisdom of knowledge" rather than other expressions such as "history of knowledge" is adopted as the title of the paper. The Land of Iran during the history has been a place of birth, improvement, and growth of knowledge; and Iranian knowledge has had its own story, history, narration and wisdom. The story and wisdom of knowledge have been genuinely related in such different aspects as ontological, epistemological, historical and ethnic; they have always been intertwined. Wisdom has been the existence of story and, in turn, story has been the appearance of the Iranian wisdom of Knowledge. Philosophers and scholars of this land were the symbols of story and wisdom of knowledge. In the shining period of Iranian knowledge, i.e. ancient and Islamic times, the views of Iranian philosophers were manifested in their scientific enterprises. The story and wisdom of knowledge in Iran have made a real and concrete unity, having their manifestation in the very being of Iranian scholars.