The State Department said it had notified Congress of the proposed sale, part of a $1 billion defense deal that also includes parts and maintenance support for Saudi tanks and helicopters.
The main contractor for the missiles is Tucson, Arizona-based Raytheon.
"This proposed sale will support U.S. foreign policy and national security objectives by improving the security of a friendly country which has been, and continues to be, an important force for political stability and economic growth in the Middle East," the State Department said, adding that the deal "will not alter the basic military balance in the region."
The deal comes almost three years to the day that Saudi Arabia, supported by the U.S., began a campaign of airstrikes against Houthi rebels in Yemen.
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