Iran's Supreme Leader Ayatollah Ali Khamenei has warned of a "crushing response" to Israel's recent airstrike on Iranian military targets.

Khamenei spoke to students in Tehran on Saturday, ahead of the 45th anniversary of the seizure of the US Embassy by Iranian students that led to a hostage crisis.

Khamenei hinted at another retaliatory attack on Israel, saying that "enemies, whether Israel or the United States, should know that they will definitely receive a crushing response for what they are doing against Iran."

US media have reported that Iran could be preparing an attack on Israel in the coming days. Khamenei did not elaborate on the timing or method of a possible strike.

The Israeli airstrike on October 26 was in response to a massive Iranian missile attack on Israel earlier in the month.

Concerns are mounting that if Iran strikes again, the cycle of retaliatory attacks between the two major powers in the Middle East could spiral out of control.