Austrian President Heinz Fischer will become the first EU head of state to visit Iran since 2004, when he heads a delegation of Austrians in Tehran from 7 September to 9 September.
Austrias capital Vienna held the talks leading to the breakthrough nuclear agreement between Iran and the P5+1 in June and also serves as the headquarters for oil-exporting group Opec, in which Iran is an important member.
Fischer will be accompanied by representatives of about 130 companies, while a briefing on the Tehran Stock Exchange will be held during the visit.
The meet highlights the continuing thawing of relations between European countries and Iran since the signing of the nuclear agreement.
Since the historic deal, Iran has hosted EU foreign policy chief Federica Mogherini, French Foreign Minister Laurent Fabius and Germany Energy & Economic Affairs Minister Sigmar Gabriel.
Last week, UK Foreign Secretary Philip Hammond visited Tehran to reopen the British embassy in the Iranian capital, four years after it was ransacked by protesters.