The oleoresin of Pistacia atlantica var. mutica, growing in different regions of Iran, is a popular naturally occurring chewing gum and has been used traditionally in the treatment of peptic ulcer. The GC-MS analysis of the essential oil, obtained from steam distillation of the oleoresin of P. Atlantica var. mutica, has led to the identification and quantification of eleven terpenoids, α-pinene (70%), β-pinene (1.94%), 3-carene (0.2%), carveol (2.18%), epoxypinene (2.15%), limonene oxide (9%), myrtenol (5.31%), limonene (0.62%), citral (5.72%), α-phellandrene (0.2%), and β-myrcene (0.3%). The total amount of essential oil obtained was 22% v/w which is higher than any other species of the genus Pestacia.