"If you continue down this path, you will pay a very high price, as we will be forced to reassess our political and economic relations with Italy," said Sarvari, member of the national security and foreign commission of Tehran's parliament.
"These acts will have consequences and the price Italy will pay for this imprudence will not be low. Italy will have to evaluate very well the decision to receive members of this terrorist organisation that are currently in Iraq," said Sarvari.
Tehran reportedly did not like the speech made on Tuesday by Berlusconi in Paris while receiving a prize by the Franco-Jewish group Keren Hayesod, during which he indirectly compared Adolf Hitler, to Iran's hardline President Mahmoud Ahmadinejad.
But Sarvari's remarks referred in particular to a recent visit by Maryam Rajavi, the leader of the National Resistance Council of Iran, the political arm of the armed opposition People's Mojahedin Organisation of Iran.
Rajavi visited Italy in mid-July to lobby for the PMOI to be removed from a European Union list of terrorist organisations.
The Iranian dissident was invited by Italian MPs to address the Parliament.
"Italy is risking its presence in Iran. It has begun a dangerous game, which it has no possibility of winning," an aide to Iran's foreign minister spokesman Hassan Ghashghavi told Adnkronos International (AKI).