The talks on Iran will follow a meeting on Syria scheduled for 10:00 am (1500 GMT).
Israeli Ambassador said, "The international community must not bury its head in the sand in the face of this Iranian aggression."
"The Security Council members must act immediately in response to these Iranian actions which endanger not only Israel, but the entire Middle East."
United States made the first request for council consultations since new US Ambassador Nikki Haley took office.
US President Donald Trump has promised to strengthen ties with Israel and has sharply criticized the Iran nuclear deal that led to a lifting of international sanctions against Tehran.
Trump is due to meet with Israeli Prime Minister Benjamin Netanyahu on February 15.
In accordance with the resolution, Iran has said its missiles would never carry a nuclear warhead as it has no plans to develop atomic weapons, but military officials have insisted on expanding the country´s missile program.
Britain, France and the United States have sought council action over Iranian missiles launches last year, but Russia and China opposed discussion of possible sanctions that they argued would jeopardize the hard-fought nuclear deal.
The deal reached with Britain, China, France, Germany, Russia and the United States imposed curbs on Iran´s nuclear program in return for lifting sanctions.