The attack follows a decision by the government to extend the state of emergency in the region.
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Security officials say the blast Sunday morning targeted a bus carrying the conscripts in El-Arish as they traveled along a seafront road.
Medical sources at el-Arish military hospital said they have received the wounded soldiers for treatment, adding that their injuries are not fatal.
Although nobody immediately claimed responsibility for the attack, the bombing bears the hallmarks of the “Sinai Province” terror group, which aims to topple the government in Cairo.
Prime Minister Ebrahim Mahlab said late Saturday that the extension of the state of emergency for a third time was necessary because of the “dangerous security situation”.
The Egyptian armed forces killed 17 extremists during armed clashes on Saturday at Sheikh Zuweid city in the restive North Sinai bordering the Palestinian Gaza Strip and Israel, security forces told Xinhua. It was extended for three months in January and in April.
Insurgents have killed hundreds of soldiers and policemen in Sinai since mid-2013, lashing out after then-army chief Abdel Fattah al-Sisi ousted Islamist President Mohamed Mursi following mass protests against his rule.
Sissi has called the insurgency an existential threat to Egypt.
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Sinai Province earlier this month assaulted several military checkpoints in North Sinai, in what was the fiercest fighting in the region in years.
