A total of 240 parliamentarians out of 244 present voted for the bill.
Iran's parliament voted Sunday to allocate 520 million USA dollars to develop missile program to fight the US "adventurism" and sanctions, state news agency IRNA reported.
Iran's lawmakers have overwhelmingly approved a motion in response to recent U.S. sanctions, voting to boost spending on Tehran's missile program and the Islamic Revolution Guards Corps (IRGC).
The legislation is a reaction to a bill ratified recently in the US Senate allowing Washington to impose non-nuclear sanctions against the Islamic Republic.
Iranian officials have said the country's missile programme was for deterrent purposes.
He was referring to a 2015 nuclear deal with world powers, known officially as the JCPOA, under which Iran agreed to strict limits on its nuclear programme in exchange for an easing of sanctions.
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Deputy Iranian Foreign Minister Abbas Araqchi is seen walking in Majlis (Iranian Parliament) on August 13, 2017.
He reminded members of parliament that the government backed the bill, which he said "was designed wisely so that it does not violate the (nuclear deal) and provide excuses for opposing sides", reported.
On Sunday, Iran's parliament supported the bill on additional $520 million for the ballistic missiles program and for the Islamic Revolutionary Guard Corps (IRGC).
"Iran boasts potential and actual options to confront hostile U.S. actions".
Under the law, the foreign ministry is tasked to create and publish a blacklist of people to be put under sanctions - in cooperation with the Revolutionary Guards' foreign operations wing, Central Bank, and ministry of intelligence.
The bill also mandates the economy ministry to prioritise deals with countries and companies that ignore financial and military sanctions on Iran.