The select committee is expected to start taking evidence in the new year in relation to the operations of the office of the Independent Commissioner Against Corruption.

SA-BEST upper house MP Frank Pangallo, who called for the inquiry, cited a number of failed and costly investigations conducted by the ICAC.

"The ICAC has been operating for the past seven years. It has enormous clout and resources at its disposal, however, I am of the strong belief the jury is out on its performance," Mr Pangallo said.

"I believe a parliamentary select committee is the only way to properly and independently investigate the operation of the state's anti-corruption watchdog."

The inquiry will look into any damage, harm or adverse outcomes to any parties resulting from ICAC investigations and prosecutions and consider if exoneration protocols need to be developed.

Though it will not examine the alleged actions of any person who was investigated or prosecuted.

The committee will not concern itself with any ongoing ICAC investigations or prosecutions.

It was approved by a vote in the upper house with the support of the Labor opposition and the Greens.

Australian Associated Press