Punjab police's counter-terrorism department (CTD) said most of the terrorists were from Tehreek-i-Taliban Pakistan.
CTD said the team seized weapons, explosives, CDs containing hate speeches and glorification of "jihad".
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The terrorists have been shifted to an undisclosed location for interrogation, the official said.
In another raid in the province's Jauharabad city, the CTD arrested another terrorist affiliated to the TTP.
Following intelligence reports that some terrorists were planning to attack sensitive installations in Jauharabad, a CTD team conducted a raid near the city's railway station on Thursday and arrested Ejaz Husain of TTP's Aminullah Amin group.
In another operation, a member of Lashkar-e-Jhangvi (LeJ) was arrested from Rajanpur, some 400 km from here. A CTD police team after receiving information about presence of a suspected terrorist conducted the raid and arrested Bilal Makwal.
A case has been registered against the suspects under different sections of the Anti-Terrorism Act.
Pakistani military has launched a combing operation in the country after the Quetta blast last month in which more than 70 people, mostly lawyers, were killed.
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