In a statement on Saturday, the IRGC Navy’s public relations office said the tanker sought to leave the Strait of Hormuz when it struck the mine, triggering a powerful explosion.
It added that the supertanker had switched off its navigation and positioning systems before the incident.
The vessel was now burning in a massive blaze visible to people living along the coast, the statement noted.
“A massive fire awaits any violating oil tanker that seeks to disregard the security and regulations of the Strait of Hormuz,” the IRGC warned.
The incident took place after the IRGC naval forces struck a giant liquefied petroleum gas (LPG) carrier in the Strait of Hormuz attempting to pass through an "illegal route" south of the strategic waterway.
In a statement on Friday, the IRGC warned that action against vessels using unauthorized routes would no longer be confined to the Strait of Hormuz, saying violators would be pursued and punished across the entire region.
Iranian armed forces have been in full control of the Strait of Hormuz since the start of the US-Israeli aggression against the country on February 28.
Commercial traffic through the strait has fallen sharply, with vessel movements dropping to single digits amid the ongoing war on Iran and the restrictions on shipping through the strategic waterway.
Tehran has said it will not reopen the waterway until the United States meets its demands and takes steps to restore Iran's trust.