The raids coincided with the commemoration of the Sinai Liberation Day, which celebrates the final withdrawal of all Israeli military forces from the Sinai Peninsula in 1982.
The raids targeted a number of underground tunnels and weapon stores belong to the militants in Touma village and south Sheikh Zuweid city in North Sinai, army spokesperson Brigadier General Mohamed Samir said in a statement.
Egypt's North Sinai has witnessed many violent attacks by militants since the January, 2011 revolution that toppled the ex-president Hosni Mubarak.
Over 700 security personnel have been reported killed since then.
The military has launched security campaigns in the area, arrested suspects and demolished houses that belong to terrorists, including those facilitating tunnels leading to the Gaza Strip.