US President Donald Trump said the suspects had been looking to do "big damage" and had been under investigation by British and US authorities.
British counterterrorism detectives leading the investigation said police had received a call about three suspicious vehicles that appeared to be travelling towards RAF Fairford in the west of England in the early hours of Sunday.
Five men were arrested by armed officers and later held on suspicion of preparation of a terrorist act. Police, who said they believed the incident was now contained, have not yet publicly stated who they assessed was involved.
