The Iranian Light Source Facility (ILSF) is a new 3 GeV synchrotron radiation laboratory which is in the design stage. The ILSF storage ring (SR) is based on a Five-Bend Achromat (5BA) lattice providing an ultra-low beam emittance of 0.48 nm rad. The ring is comprised of 100 pure dipole magnets, 320 quadrupoles and 320 sextupoles with additional coils for dipolar correctors and skew quadrupoles. In this paper, we present some design features of the SR magnets and discuss the detailed physical design of these electromagnets. The related electrical and cooling calculations and mechanical design issues have been investigated as well.