According to a statement from his office, Davutoglu will visit Iran at the head of a diplomatic delegation on March 4 and 5, and is slated to meet with high-ranking Iranian officials.
The meetings between officials of the two powerful Middle East actors are expected to cover regional issues.
The trip is also important as Syria peace negotiations in Geneva are set to begin on March 9 and it could offer the neighbors an opportunity to discuss their sharply different views on the crisis in Syria.
Despite their differences, Turkey and Iran have largely maintained cordial diplomatic relations.
It will be the first high-level state visit to Iran since President Recep Tayyip Erdogan visited the country in April 2015.
Meanwhile, Iran’s President Hassan Rouhani is also scheduled to make an official visit to Ankara within the coming months, the Iranian Ambassador to Ankara Alireza Bigdeli announced in February.