Holding cash internally provides a low-cost financing option for companies; But the value of the firm increases up to a point with the presence of cash, but decreases as the cash balance exceeds an empirically estimated threshold called the "optimal level". The purpose of this research is to investigate the relationship between Cash Holding and Firm Value according to managers' optimism. The information required for this study is taken from the financial statements of 165 companies in the period 1391-1400. In terms of purpose, the research is part of applied research and the research method is correlational in terms of nature and content, and panel analysis has been used to analyze the hypothesis The results of the research hypotheses test show that there is a negative and significant relationship between the level of cash Holding and the value of the company, and the optimism of managers strengthens the negative relationship between the level of cash Holding and value.