With　the　increase　of　transport　demands,　more　pressure　and　challenges　are　being　imparted　into　efficient　transportation.　As　a　conventional　and　direct　congestion　alleviation　strategy,　constructing　new　roads　and　lanes　are　increasingly　restricted　by　limited　land　resources　and　high　costs.　Thus,　making　full　use　of　existing　transport　network　via　appropriate　management　is　critical　to　realize　the　sustainable　development　of　transportation　systems.　As　a　flexible　management　strategy,　lane　reservation　strategy　has　been　widely　adopted　in　real　life.　The　reserved　lanes　can　improve　the　efficiency　of　special　transports,　while　they　bring　negative　impact　such　as　travel　delay　for　general-purpose　transports.　In　addition,　the　setting　and　operating　of　reserved　lanes　require　a　certain　amount　of　cost.　This　paper　proposes　a　new　dual-objective　integer　linear　programming　model　for　optimally　determining　reserved　lanes　on　a　network　for　time-guaranteed　special　transports　in　order　to　simultaneously　maximize　the　benefits　and　minimize　the　negative　impact　brought　by　reserved　lanes,　which　incorporates　road　residual　capacity　and　limited　budget　to　the　actual　decision.　Moreover,　an　iterative　weighted　sum-based　method　is　proposed　to　solve　it,　in　which　a　new　relax-and-optimize　algorithm　is　developed　to　exactly　solve　the　single-objective　optimization　problems.　Results　of　extensive　numerical　experiments　show　the　effectiveness　and　efficiency　of　the　proposed　model　and　approach.　©　2013　IEEE.