The four men, identified only by their first names Mohammad-Reza, Farhad, Hashem, and Hamid, were hanged in prison on Wednesday, according to the daily Iran.
The report described Mohammad-Reza as a young boy at the time of his alleged crime. He was charged with killing a man in the Iranian capitals Nezam-Abad District in May 2004.
During his interrogation, Mohammad-Reza reportedly told investigators that he was in need of money because of his mothers poor financial situation.
In court, Mohammad-Reza insisted that he had not intended to kill the man who owed him the equivalent of $500 and that the shooting was accidental.
He said that he accidentally shot the man as he was pointing a gun to frighten him into handing over the money.
Immediately after the shooting, Mohammad-Reza fled to a nearby school and held several people hostage before letting them free.