Iran, which is locked in a dispute with the West over its nuclear program, often announces advances in its military capabilities and tests weaponry in an apparent bid to show its readiness for any strikes by Israel or the United States.
The Guards' exercises in the Gulf and the Strait of Hormuz coincided with rising tension between Iran and the West, which says Tehran's nuclear work is aimed at making bombs. Iran denies this.
Last week, the Pentagon said US military action against Iran remained an option even as Washington pursues diplomacy and sanctions to halt the country's atomic activities.
Speaking on the drills' fourth day, Guards commander Massoud Jazayeri said Iran had a deterrence plan which would make the enemy "regretful" if they launched any attack against the country, the official IRNA news agency reported.
He also reiterated Iran's position that foreign forces in the region should leave, apparently referring to the presence of US troops in neighboring Iraq and Afghanistan.
"Those who came from (far away) to our region must leave, because we consider them as the enemy," he said.
Semi-official Fars News Agency said Guards' naval units fired five missiles at a target, without making clear if they were newly designed missiles.
"Despite the different places from which the missiles were fired , they all hit the target simultaneously and completely destroyed it," Fars said.
The missiles were surface-to-surface and surface-to-sea.
A second Guards commander, Brig. Gen. Ali Hajizadeh, said mass production of a new reconnaissance drone which was tested in the exercise would soon be launched, Fars reported.
On Thursday, Iranian media said the Guards successfully tested a new speedboat capable of destroying enemy ships.
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