The Israel Missile Defense Organization and the U.S. Missile Defense Agency said the test was conducted at an Israeli test range over the Mediterranean Sea last Friday.
No target missiles were launched during the trial, they said, but the interceptor was launched and flew an exo-atmospheric trajectory through space as planned.
No additional details of the event were given.
The Arrow-3 is being developed by Israel Aerospace Industries in conjunction with Boeing and is designed for theater missile defense. It has a range of more than 90 miles and features a passive infrared seeker and an active radar seeker.
The United States and Israel signed a memorandum of understanding for co-funding development of the missile in 1986.
"The successful test is a major milestone in the development of the Arrow-3 Weapon System and provides confidence in future Israeli capabilities to defeat the developing ballistic missile threat," the agencies said.
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