Villagers spotted the grave where the murderers dumped the bodies while the police subsequently dug them up.
"The boys, aged between 7 and 10, went missing while they were playing at a field at their village, Their bodies were found at an isolated area near the village," a police officer told a private TV channel.
Police said they suspect feuds among villagers could be the reason for the murders.
According to TV reports Deputy Inspector General of Police Mizanur Rahman visited the spot and requested the villagers to give any information that could lead them to the killers.