One of the factors that investors should pay attention to is economic uncertainty. Investors purchase assets with the hope that they will earn returns over the next few periods. With the increase in economic policy uncertainty, many companies make major changes in systematic risk management. Also, one of the areas of study of recent research is the division of systematic risk into desirable and undesirable systematic risk. Accordingly, this study, considering the importance of the aforementioned concepts, seeks to examine the impact of economic policy uncertainty on desirable and undesirable systematic risk. In this study, 144 companies listed on the Tehran Stock Exchange were studied during the period 1402-1396. A panel regression model was used to test the hypotheses. The research findings show that economic policy uncertainty has a negative effect on desirable systematic risk and a positive and significant effect on undesirable systematic risk.