“Armed and masked” youths were reported to the police in Loxford Lane on March 21.
Officers closed off the area and found a group near a block of flats, carrying out a stop and search.
Following the search, three boys – 15, 16 and 22 – were arrested on suspicion of possession of offensive weapons.
All three suspects have been bailed until further enquiries.
A Met spokesperson said: “Two teenagers, aged 15 and 16, and a 22-year-old man have been arrested on suspicion of possession of offensive weapons.
“On Friday, 21 March police were called to Loxford Lane, Ilford to reports of a group of youths, believed to be armed and wearing masks in the area.
“Police attended and located the group in a nearby block of flats.
“Two knives were found and seized.
“All three suspects have been bailed pending further enquiries.”
