Personnel at the Royal Air Force base at Akrotiri, near the island's second city Limassol, said those who came ashore included women and children and all were in good health.
British authorities could not say whether they were refugees fleeing Syria or whether Cyprus was their intended destination.
"There were two boats carrying around 120 people, there are no reports of anyone being unhealthy and we are trying to establish where they came from," a British bases spokesperson told AFP.
As the migrants landed on British territory, the migrants' status on the island is unclear.
European Union member Cyprus lies just 100 kilometres (60 miles) off the coast of Syria but has so far avoided a mass influx of refugees from the country's conflict, with most preferring to bypass the island.
In September, 115 refugees, including 54 women and children, were rescued from a small fishing boat that ran into trouble about 40 nautical miles off the southern port of Larnaca.
Two months later, about 220 Syrian refugees crammed onto a fishing boat were rescued off the coast of Turkish-occupied northern Cyprus after hitting rough seas.
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