According to the Tansim News Agency, the surface-to-surface missiles were launched in the central Iranian desert of Dasht-e Kavir hit their intended targets in the Indian Ocean, 1,800 kilometers (1,118 miles) away.
The annual wargames, codenamed Great Prophet 15, have become a platform for Tehran to showcase its military advancements.
The desert drill was staged a day after an Iranian submarine launched cruise missiles in the Gulf of Oman. Iran published a photo of what appeared to be a US nuclear sub observing the launch. The US sent a submarine to the Persian Gulf in a show of force last month.