In the fast growing world of Information Technology, project selection is one of the most important decisions managers have to make. In this paper, the qualitative and quantitative decision criteria for IT project selection are defined and the relative weights are assigned to them, using AHP method. Then, a portfolio of 99 projects is analyzed with a stochastic scenario-based approach and the best projects are selected within the budget scope of the organization. This study has been done in Tebyan institute, the biggest IT company in Iran.