According to army spokesperson Brigadier General Mohamed Samir, the raids were carried out on the hideouts of the militants in the area. 10 militants were killed and two others injured in the operation.
Four Egyptian soldiers were also killed in the gunfire exchange which left eight others injured, he said.
Three unlicensed vehicles and motorcycles were destroyed and eight farms used by militants as shelters also wiped out in the raids, the spokesperson added.
Egypt's North Sinai has witnessed many violent attacks by militants since the January 2011 revolution that toppled ex-president Hosni Mubarak.
Over 600 security personnel are said to have been killed since then.
The military has launched security campaign in the area, arrested suspects and demolished houses belonging to terrorists, including those facilitating tunnels leading to the Gaza Strip.