During the years 2017–2020, when Iran faced restrictions on the sale of oil and gas condensate and due to the need for domestic consumption and gas sales commitments, it was inevitable to produce gas at full capacity. This coercion has led to significant production of gas condensates. Some of these condensates were sold, some were converted into products such as gasoline in domestic refineries, and some of these condensates needed to be stored, but the storage capacity was limited. For the purpose of underground condensate storage, a heavy oil reservoir was selected based on some technical and operational criteria. A feasibility study was conducted to evaluate the potential risks of condensate injection into the reservoir. The results of tests on asphaltene precipitation, as the most important risk, indicated no severe precipitation would occur even if high concentration of condensate mixed with the reservoir heavy oil. The recovery of condensate and the production performance of the reservoir were simulated in three different injection-production scenarios. The results showed a positive effect of condensate injection on production rate of the reservoir. Moreover, satisfactory volume of condensate could be recovered in a reasonable period of time.