The move came on the 20th anniversary off the fall of dictator Ferdinand Marcos.
"I was tipped off yesterday that they (the government) were out to get me and my name was on a list of people to be arrested. No one said when," the Tribune's editor and publisher, Ninez Cacho-Olivares, said.
"I left the office as I normally do around 9.30 pm and just after midnight police entered our offices and confiscated papers and documents. They sealed the offices and posted police at the front door," she added.
President Gloria Arroyo, citing "clear and present danger" to the elected government, declared a national emergency Friday to quell an alleged coup plot by military officers.
She ordered about a dozen military officers and civilians arrested in connection with the coup attempt.
Media groups throughout the country believe the president's declaration was also a clear warning to them.
"This is a very clear attempt to close us down. There were no calls or warrants," Cacho-Olivares said.
Police also raided the Tribune's printing plant but only managed to confiscate a few hundred copies of the paper, which has been highly critical of the Arroyo government.
Cachio-Olivares said she would go to the office later Saturday to bring out the Sunday edition of the paper.
"They can intimidate me all they like but I will fight them every inch of the way. If they close us down I will go to the supreme court.
"Its just like Marcos all over again. It won't be long before they start ringing editors and asking them to fire columnists or writers they consider to be againt them," she added."