Omaha Public Schools says the students were found in possession of the weapon at Benson High School on Thursday.
Principal Anita Harkins-Baldwin said in a letter to parents that a school resource officer confiscated the weapon and police were called. She said there were no threats, shots fired or injuries.
In October, a student gave a loaded gun to another student while at Benson. No shots were fired in that case and both students were arrested.