The more comprehensive information on the reservoir properties will help to better plan drilling and design production. Herein, diagenetic processes and geomechanical properties are notable parameters that determine reservoir quality. Recognizing the geomechanical properties of the reservoir as well as building a mechanical earth model play a strong role in the hydrocarbon reservoir life cycle and are key factors in analyzing wellbore instability, drilling operation optimization, and hydraulic fracturing designing operation. Therefore, the present study focuses on selecting the candidate zone for hydraulic fracturing through a novel approach that simultaneously considers the diagenetic, petrophysical, and geomechanical properties. The diagenetic processes were analyzed to determine the porosity types in the reservoir. After that, based on the laboratory test results for estimating reservoir petrophysical parameters, the zones with suitable reservoir properties were selected. Moreover, based on the reservoir geomechanical parameters and the constructed mechanical earth model, the best zones were selected for hydraulic fracturing operation in one of the Iranian fractured carbonate reservoirs. Finally, a new empirical equation for estimating pore pressure in nine zones of the studied well was developed. This equation provides a more precise estimation of stress profiles and thus leads to more accurate decision-making for candidate zone selection. Based on the results, vuggy porosity was the best porosity type, and zones C2, E2 and G2, having suitable values of porosity, permeability, and water saturation, showed good reservoir properties. Therefore, zone E2 and G2 were chosen as the candidate for hydraulic fracturing simulation based on their E (Young’s modulus) and ν (Poisson’s ratio) values. Based on the mechanical earth model and changes in the acoustic data versus depth, a new equation is introduced for calculating the pore pressure in the studied reservoir. According to the new equation, the dominant stress regime in the whole well, especially in the candidate zones, is SigHmax>SigV>Sighmin, while according to the pore pressure equation presented in the literature, the dominant stress regime in the studied well turns out to be SigHmax>Sighmin>SigV.