The Lebanese daily al-Akhbar said a Lebanese national with the rank of colonel was arrested several days ago, but the army barred local media from reporting his arrest ahead of celebrations for Lebanon's National Army Day.
On Monday, a senior manager from the Lebanese telecommunications company Ogero, was arrested on similar charges, the report said.
Hezbollah's al-Manar satellite station reported other suspects from the same company will be arrested on similar charges.
The recent arrests are in addition to those of employees from the Alfa telecommunications company, who were detained in recent months,the paper said.
Another former senior army officer employed by Alfa is believed to have fled to Germany, and four company technicians also fled abroad, the Lebanese media reports said.
In recent months, Lebanon has arrested 70 nationals in alleged Israeli espionage plots, The Daily Star said Tuesday.
The wave of arrests has sparked fears the country's communications infrastructure has been penetrated by Israeli intelligence.
President Michel Suleiman who under Lebanese law must sign a death sentence before it is carried out, has called for severe punishment for spies. The Lebanese cabinet agreed to impose the death sentence on those suspected of spying for Israel, the newspaper said.