A commando of fighters equipped with rifles and suicide vests snuck into Speicher base, near the city of Tikrit, in the middle of the night.
Their target was a large group of police forces from Nineveh, a northern province of which Mosul is the capital, who were undergoing training.
"Under the cover of fog, they broke into Speicher," said Mahmud al-Sorchi, spokesman for the paramilitary force being set up to take back IS-held Nineveh.
He also said 20 policemen were wounded in the attack.
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Several other security sources in the region confirmed the attack, which was claimed by the Islamic State group.
The jihadist organisation said seven suicide attackers managed to enter the huge military base, which lies about 160 kilometres north of Baghdad.
In a statement posted online, IS said its commando reached a centre where 1,200 cadets were being trained, sparking clashes that lasted four hours.
The sprawling military base itself was never fully controlled by the jihadists but at the beginning of their offensive they committed one of the conflict's worst atrocities there.
IS fighters assisted by local insurgents rounded up hundreds of cadets from Speicher, marched them to Tikrit and massacred them in several locations.
Hundreds of bodies were discovered in shallow graves when the Iraqi forces retook Tikrit in April 2015 but other victims were shot and thrown into the Tigris and will likely never be found.
Security officials said today's raid was launched from the western side of the base, a desert area where IS remains able to operate despite the increased presence of Iraqi forces.
The group has launched a number of attacks since losing control of the city of Ramadi in the western province of Anbar a week ago.
After taking the strategic government complex in the centre of the city, elite counter-terrorism forces have been expanding their grip and sweeping each neighbourhood for holdout jihadists and trapped civilians.