Forty-seven of the 151 militants were identified as dangerous 'Takfiri' leaders. Twenty-two of them are Egyptian while 25 others were of different nationalities, sources said.
The raids came days after President Abdel Fattah El-Sisi ordered the formation of a military leadership for Sinai and the areas east of the Suez Canal.
Egypt's Sinai peninsula has witnessed many violent attacks by militants since the January 2011 revolution that toppled ex-dictator Hosni Mubarak.
The attacks targeting police and military increased after the ouster of Islamist ex-president Mohamed Morsi in 2013.
Last month, at least 32 people were killed and dozens others were injured in simultaneous attacks that hit Al-Arish City in North Sinai.
The military has launched security campaigns in the area, arrested suspects and demolished terrorist bases and tunnels leading to the Gaza Strip.