The accused have been identified as Rohit, Diwakar, Vishal, Raghav and Rahul, all residents of Delhi.
Police claimed that with their arrest, 28 cases have been worked out.
The accused were on Tuesday arrested from the Prasad Nagar area following a tip-off. Three bikes, two gold chains and a mobile phone were recovered from their possession, police added.
"The accused are wanted in a number of snatching cases. With their arrest, we have solved 28 cases of snatching in different parts of Delhi," said a police officer.