South Korea's military said the missile, which was fired from Sunan, just north of Pyongyang, reached an estimated altitude of about 770km and travelled 3,700km before landing in the Pacific Ocean, off the island of Hokkaido.
The missile flew further than any missile tested by the regime.
The Japanese prime minister, Shinzo Abe, said his country would "never tolerate" such "dangerous provocative action". The United States told Russia and China to take "direct action".
Sweden's foreign minister Margot Wallström condemned the test.
"Another illegal missile test carried out by North Korea. Sweden condemns it in the strongest terms. UNSC will hold extra meeting today," she said in a tweet.
The United Nations security council will hold an emergency meeting today at 3pm local time in New York at the request of Japan and the US. It comes just days after it approved a new round of sanctions against the regime.