Iran’s Navid Rezaeifar scored 19 points, while the UAE’s Qais Omar Ahmed Alshabebi earned 23 points.
Iran’s basketball team has won back-to-back silver medals in the previous editions.
Iran will play Saudi Arabia on Thursday and meet Kazakhstan on Saturday.
A record high of nearly 12,500 athletes from 45 countries and territories compete across 40 sports in the 2022 Asian Games.
Iran has sent 289 male and female athletes to the Games in 34 sports events.