Israeli troops, backed by armored vehicles and aircraft entered the area to the east of the southern city of Khan Yunis before dawn, and attacked a group of militants.
According to local health officials, the majority of the injured are members of the Izz el-Deen al-Qassam brigades, a militant wing of hard-line Islamist group Hamas, which controls the Palestinian enclave.
Doctors said at least three of the injured are in a critical condition.
The Israeli Defense Force said the operation targeted fighters in southern Gaza, and confirmed that another group of militants was hit during an earlier airstrike.
Israel regularly conducts cross-border raids on the Gaza Strip to counteract so called standard terrorist threats, such as rocket attacks and terrorist raids.
