The 200 square meter flag was hoisted on a height of 100 meters during a ceremony held by the NOCIR reported on Sunday.
Iran's leading Olympic medalists carried the flag to the point where it was hoisted by officials and other athletes.
World Olympic Day or International Olympic Day is observed globally on June 23 to honor the establishment of the International Olympic Committee (IOC).
The occasion was celebrated for a first time in 1948 as a tribute to June 23, 1894 when modern Olympic Games were formed.
The occasion is commemorated to foster global engagement in sports, irrespective of age, gender or athletic aptitude.
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