Mohammad Sina Vahedi scored 24 points for Iran, while Junemar Fajardo of the Philippines earned 18 points.
Team Melli is scheduled to meet South Korea on Wednesday for the 5th-8th place.
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.