"The army in cooperation with popular defence groups (pro-regime militias) took control of Maheen and Hawareen in the southeast of Homs province after inflicting heavy losses on Daesh," state television said, using the Arabic acronym for IS.
Britain-based monitoring group the Syrian Observatory for Human Rights confirmed the army's advance, which it said had been backed by Russian warplanes and military helicopters.
The recapture of Maheen comes after it was overrun by IS on November 1.
IS forces launched their assault on Maheen from neighbouring Al-Qaryatain, which the group captured earlier this year, kidnapping hundreds of civilians and destroying ancient Christian sites.
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The army advance now puts Al-Qaryatain, which is just 15 kilometres from Maheen, in their sights.
Elsewhere in Homs province, the Observatory said government forces were advancing on the outskirts of the ancient city of Palmyra, which IS captured in May.
Since seizing the famed city, IS has destroyed many of its UNESCO World Heritage sites, including ancient temples, drawing international condemnation.
Moscow says its air strikes target IS and other "terrorists," but rebels and their backers say moderate and Islamist opposition fighters have borne the brunt of them.