The construction of the ship, which is the first Croatian Navy minesweeper, cost about 70 million kuna.
Present at the launching of the vessel, named after the island of Korcula, were Defence Minister Berislav Roncevic and the Navy's Commander, Admiral Zdravko Kardum.
The minesweeper, which can develop a speed of up to 10 knots, is 25.70 metres long, 6.80 metres wide and four metres high. It is designed to neutralize naval mines.
The ship will also be used for civil purposes such as sea research, archaeological protection at sea and the search for and locating of sunken ships.
The Navy commander said that the Croatian Navy would need at least three to four more ships of this kind.
Commenting on the construction costs, Minister Roncevic said that the investment was completely profitable.