We calculate lepton flavor violating Z -> l^+ l^- decay in the framework of the general two Higgs Doublet model. In our calculations we used the constraints for the Yukawa couplings bar{xi}^{D}_{N,tau e} and bar{xi}^{D}_{N,taumu} coming from the experimental result of muon electric dipole moment and upper limit of the BR(mu -> egamma). We observe that it is possible to reach the present experimental upper limits for the branching ratios of such Z decays in the model III.