Bayhaqi's History is a source containing testimonies from the era of Sultan Masoud Ghaznavi who have accurately reported opportunities, opportunity-seeking and opportunity-burning. Intellectual capital is a knowledge-based and hidden asset hidden in this literary and Persian text, and based on intellectual capital, useful reports can be obtained in this book and it has great value for research. By examining various reports by Bayhaqi about the relations between the Sultan and his agents and based on the chosen definition of intellectual capital, he has evaluated the human capital of testimonies such as helping competent agents, thinking together in selecting agents, empowering them, and also examining the inhibitors of this human capital. The achievement was that Bayhaqi wrote his reports about Sultan Masoud based on the intellectual capital of his agents, and in particular, in evaluating them for competence, he paid great attention to the characteristics of the agents and their positions, as well as the compatibility of the two. He did not consider the fundamental factor of the collapse of Masoud's reign to be the lack of intellectual capital, but rather the Sultan's lack of attention to his intellectual capital and his prudence.