The caravan was being towed along the M1 motorway when it was spotted by police near junction 27 at around 11am yesterday (Sunday).
Acting on intelligence, officers followed the vehicle along the motorway before eventually pulling it over near junction 23A on the A42.
The unlicensed firearms were found during a road-side search and seized.
Two people, a 47-year-old man and a 14-year-old boy were arrested on suspicion of possessing firearms without a certificate.
Both were later released under investigation.
Detective Sergeant Matthew Dumbrell, of Nottinghamshire Police, said: “This was a great bit of work by officers that led to five firearms being taken off the streets. Being in possession of firearms of any kind without the legal authority to do so is extremely serious and will always generate a very strong police response.
“Our investigation into these weapons is ongoing an anyone with additional information is asked to call 101 quoting incident 219 of 18 April.”
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