On Thursday, Iran's Revolutionary Guards presented a new ballistic missile with a range of 621 miles, according to a report from Iran's Fars News Agency.
Fars reports that the new "Dezful" missile is an upgraded version of the Zolfaghar missile, which has a range of 435 miles. Dezful's range puts Israel and US military bases in the region within reach.
The unveiling ceremony Thursday was carried out by Iran's military at an underground missile production factory similar to an "underground city," the report said.
The missile was unveiled during a time when Iran celebrates the Islamic Revolution that fundamentally changed the country 40 years ago.
However, the underground factory's location was not specified by Fars News Agency.
Meanwhile, Israel's Channel 12 reported Thursday that Iran is creating another missile factory in Syria near the town of Safita.
The Israeli report claimed that Iran will use the factory to turn develop Hezbollah's missiles into high-precision weapons.
The report said a front organization was created to purchase materials from Italy, China and other Asian nations.
Iran and Israel have clashed in recent weeks.
Last week, Iran's Supreme National Security Council Secretary said Iran will continue to supply deadly weapons to its proxies in Lebanon and Gaza so they can respond to Israel's "acts of stupidity with hellfire."
Those "acts of stupidity" refer to Israel's retaliatory strikes against the Iranian regime. Last month, Israel's Air Force pounded Iranian targets in Syria after Iran launched a rocket at Israeli citizens in the Golan Heights.
Prime Minister Benjamin Netanyahu urged the international community during a speech at the United Nations last year to monitor Iran's movements in the region.
He also sent a direct warning to the Islamic regime.
"Israel knows what you're doing, and Israel knows where you're doing it," he said. "What Iran hides, Israel will find."