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The launch of two missiles took place on the final day of war games in waters east of the strait at the entrance to the Gulf, a navy spokesman, Commodore Mahmoud Mousavi, was quoted as saying by official media.
Another missile was also to be tested, he said.
The longest range of the missiles tested today was some 200 kilometres. Yesterday, a medium-range surface-to-air missile was also test-fired during the exercises, according to Mousavi.
The show of military muscle was designed to show Iran's ability to close the Strait of Hormuz -through which 20 per cent of the world's oil flows if it chooses.
The United States, which keeps its Fifth Fleet based in the Gulf, has warned it will not tolerate a closure of the strategic channel.
Halfway through the 10 days of Iranian navy manoeuvres it sent an aircraft carrier, the USS John C Stennis, through the strait on what the Pentagon said was a "routine" passage.
But Iranian political and military officials insist they could take that drastic step if the West imposes more sanctions, on top of others that have already taken their toll on Iran's oil-dependent economy.
US President Barack Obama imposed pressure at the weekend, signing into law new unilateral sanctions targeting Iran's central bank and financial sector.
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