The attack occurred south of the town of El-Arish, scene of frequent attacks by Islamist militants on security forces.
One army officer and a soldier were killed in the blast, while another soldier was wounded.
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Egypt's military has been battling an insurgency on the peninsula since it overthrew Islamist president Mohamed Morsi last year and cracked down on his supporters.
The government declared a state of emergency in parts of North Sinai after an October 24 suicide attack near El-Arish killed 30 soldiers in the deadliest assault on security forces since Morsi's ouster.
Militant groups claim their attacks are in retaliation for a government crackdown targeting Morsi's supporters that has left hundreds dead and thousands jailed.