Since the 1970s, economic studies concerned with environmental issues have been rapidly growing. In environmental economic studies, the economy is considered as a subsystem of the ecosystem, and preserving the environment and natural resources is given as the main focus. Using various theories and empirical techniques, an environmental economic analysis attempts to identify impacts of economic activities on the environment and natural resources and to include them into the financial analysis. In order to achieve this purpose, monetary values of environmental benefits and impacts generated by an economic activity need to be assessed. Since any production causes environmental impacts because inputs are consumed, there are plenty of techniques to determine the most important consequences to the environment. In this chapter, we attempt to describe the most important benefits and impacts of saffron production on the environment. In the first section, we describe studies on the environmental impacts of saffron production. The second section explains energy use and energy indicators of saffron production. In the last part, using the results obtained from the environmental analysis, we reevaluate the economics of saffron production. Since wheat is a plant adapted to almost all types of climatic conditions, assessment of the saffron production system is compared with wheat production.