At least one officer has reportedly died and several injured during a navy exercise at the port of Jask, just off the Gulf of Oman, according to state TV on Monday.
The accident was allegedly the result of friendly fire, taking place during a live-fire drill.
"Yesterday afternoon, while carrying out an exercise at sea by the navy forces, the supporter light ship called Konarak faced an incident and a person died and some injured until now," the TV reporter said.
The ship that was hit was reportedly a missile-launching warship.
An investigation into the circumstances is underway.