Salinity is one of the major environmental stressors which has deleterious effects on the growth, development, and yield of crops. Because of the gradual increase in soil and water salinity in the East Azarbaijan, Iran, Tanacetum balsamita L. cultivation in this region has always been associated with many problems. To study the effect of foliar spray of iron sulfate (FeSO4) (0, 750, and 1500 mg L−1) under sodium chloride (NaCl) salinity (0, 50, and 100 mM) on some physiological characteristics of Tanacetum balsamita L. plants, an experiment was conducted as a factorial based on complete randomized block design with three replications. Total soluble solids (TSS) and essential oil contents were significantly affected by the interaction effects of FeSO4 foliar application and salinity levels. The highest TSS and essential oil content were found in the plants under NaCl0 × FeSO4 1500 mg L−1 treatment combination. Leaf length, leaf fresh and dry weights were influenced by both Fe foliar application and salinity levels. Foliar application of iron (Fe) positively affected leaf length, leaves fresh and dry weights, root fresh and dry weights and peroxidase (POD) content, especially at 1500 mg L−1. Other traits such as leaf length, leaf fresh and dry weights, malondialdehyde (MDA), POD and catalase (CAT) contents were influenced by salinity levels. For POD, MDA, and CAT contents, the highest values were recorded with NaCl 50 and 100. The highest values of leaf length, leaf fresh and dry weights were found in the control plants.