The air strikes, which mostly targeted hideouts in Mir Ali area of North Waziristan Agency, were sanctioned by Prime Minister Nawaz Sharif himself. Air strikes were also carried out in Khyber Agency.
The precision bombardment was part of surgical strikes which sources said should not be taken as a full-fledged military operation.
At least 40 militants, including foreign fighters, were killed in the air strikes, Pakistani news channels reported.
Sources said a factory making explosives and IEDs was destroyed in the air strikes in Khyber Agency.
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Sources in the Pakistan government told PTI that Prime Minister Sharif authorised the air strikes last night.
The government has been trying to engage the banned Tehrik-e-Taliban Pakistan in peace talks to end the decade-long insurgency that has claimed about 40,000 lives.
However, the peace process suffered a setback a Taliban faction killed 23 paramilitary personnel abducted in 2010.
The sources said the air strikes were aimed at protecting the people as militants were making plans to carry out attacks.
The air strikes came hours after the military in a rare move gave out casualty figures since an All-Parties Conference in September decided that talks were the way out to tackle the Taliban.
"Innocent people (308 civilians, 114 military, 38 police) have embraced martyrdom and 1,264 (684 civilians, 531 military, 49 police) were injured due to terrorist acts throughout the country since the All-Parties Conference," a military official said.