Although Tehran insists its missiles are defensive and meant to serve as deterrence against its enemies, Israel, Saudi Arabia and the United States accuse the Islamic Republic of behaving aggressively.
The test firing was 40 years after 1979 Islamic Revolution in which the monarch was overthrown.
Meanwhile, one member of Iran's Revolutionary Guards was killed and five were wounded in an attack on a base in southeastern Iran on Saturday, Iranian media reported.
Tehran says the programme is purely defensive.
Reuter's news agency quoted Amirali Hajizadeh, head of Iran's Revolutionary Guard's aerospace division, as saying that Iranian engineers had surmounted initial obstacles in building engines for its cruise missiles, and can now produce a complete range of such missiles.
Last year, US President Donald Trump quit the Joint Comprehensive Plan of Action, the 2015 deal between the permanent members of the United Nations security council and Tehran on its nuclear programme, and reimposed tough sanctions that have hit the Iranian economy hard.
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Experts say that Iran has a history of overinflating its capabilities but warn that concerns over Iran's long-range ballistic missile development are founded. Khashan thinks the new missile is simply a "negotiating ploy".
Amir Hatami, underlining that the Islamic Republic of Iran is improving day by day the ability to defend and ensure national security and interests and does not ask anyone's permission in this regard, said "Hoveizeh" long-range cruise missile is a symbol of self-confidence and an important defense achievement representing the climax of global technological advancement.
The missile has a range of 839 miles and was successfully fired in the video at a distance of 745 miles. US President Donald Trump officially walked away from the multinational agreement last May, before repeatedly blasting it as the "worst deal ever".
Salami noted that Iran does not have technical limits to expand the missile range, the destructive power and the propulsion system.
Iran has missile capability of up to 2,000 kilometres (1,250 miles), far enough to reach archenemy Israel and US military bases in the region.
The resolution - which was in Iran's nuclear deal - called upon the country to not develop ballistic missiles created to deliver nuclear weapons for eight years. French Foreign Minister Jean-Yves Le Drian said on January 25 that Paris was ready to impose further sanctions on Iran if no progress was made in talks over their programme.