Team Melli had defeated Singapore (8-0), Thailand (10-4), Tajikistan (37-0) and Kazakhstan (5-3) in its previous matches.
Iran will meet Malaysia on Saturday in the final match.
Host Kazakhstan will lock horns against Thailand in the third-place match.
The 2024 Men's Indoor Hockey Asia Cup is the tenth edition of the Men's Indoor Hockey Asia Cup, the biennial international men's indoor hockey championship of Asia organized by the Asian Hockey Federation.
The tournament is taking place from May 21 to 25 in Taldykorgan, Kazakhstan.
Iran and Malaysia have previously advanced to the 2025 Men's FIH Indoor Hockey World Cup as top two teams.