The device is thought to have washed ashore during the recent bad weather, and was reported to the coastguard on Sunday afternoon.
It was initially feared to be an unexploded bomb but is now thought to have been a marine flare.
A controlled explosion was carried out at 8.30am today after the navy team was unable to safely dispose of the device last night due to light and fading tide.
The device was approximately 500 metres away from the Promenade and roughly level with St Annes pier.
It was thought a bomb could have drifted from Luce Bay, in Scotland - which was used by the RAF between the 1930s and 1990s as a bombing range training area. *Video provided by Fylde Council.