Police teams, including a Bomb Response Team and K9 units, were called to a southside address after reports of a homemade bomb device on Thursday morning.
Australian Federal Police units arrived at the house in Duffy, Weston Creek, after they were notified about 9.30am.
The people inside the house were evacuated after police initiated a significant response.
The operation is said to have lasted "several hours" while the item was declared safe.
"We had a possible explosive device at a residence in Duffy," an ACT Policing statement said.
"The item was assessed by specialised technicians from the AFP Bomb Response Team and made safe on sight."
The house involved in the incident was known to ACT police, a spokeswoman said.
She said the device, suspected to be homemade, was only considered a threat to the people inside the house and police believe it was an isolated incident.
No one has been arrested in relation to the event and an investigation is underway, she added.
"There is no further risk to the public. At this time, no charges have been laid, however, investigations into this matter are continuing," the police statement said.
