Shahdab lost to Police of Qatar 3-1 (24-26, 25-16, 25-20, 25-19) on Sunday.
Shahdab finished in third place last year.
Japanese team Suntory Sunbirds will play Jakarta Bhayangkara Presisi of Indonesia in the final match.
Shahdab had previously lost to Police 3-2 in the competition.
The 23rd Asian Men's Club Volleyball Championship started on May 14 in Manama, Bahrain and will run until May 21.
The champions will qualify for the 2023 FIVB Volleyball Men's Club World Championship.
Paykan Tehran holds the record for most victories, winning the competition eight times. Teams from Iran have won the tournament 16 times, the most for any nation.
The current Asian champions are Iran's Paykan Tehran, who defeated Japan's Suntory Sunbirds 3–2 in the final of the 2022 event.
MNA/TT
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