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The research deals with the relation between asset growth and stock return and also the role of financing resources in returns of firms with high or low asset growth. With an accurate study of literature, six hypotheses and a statistical sample of 96 firms listed in Tehran Stock Exchange for a seven-year period during 2005 to 2011 have been provided. Hypotheses were analyzed by multivariate regression and tests of F and t. Results obtained by hypothesis test show that there is a significant positive relation between asset growth and stock return of firms and there is a significant negative (positive) relation between internal & external financing and stock return of firms with high (low) asset growth. But relation of financing through bank and capital market with stock return of firms with high (low) asset growth is significantly positive (negative). In addition, the results show that there is no significant relation between the proportion of free float shares and stock return of firms with high asset growth, however, there is positive and significant relation between the proportion of free float shares and returns of firms with low asset growth.