Police took "swift" action in a nationwide operation, the Metropolitan Police said in a statement.
The 27 climate activists were arrested on suspicion of conspiring to disrupt national infrastructure.
Four people were detained at Gatwick Airport on Tuesday, and have been released on bail.
Six more people, whom the police said included "key organisers" of the Just Stop Oil group, were arrested in an east London community centre on Thursday.
Met officers, working with other police forces around the country, arrested 17 more people at their homes on Friday.
"We know Just Stop Oil are planning to disrupt airports across the country this summer which is why we have taken swift and robust action now," said Met Chief Superintendent Ian Howells, who led the operation.
"Anyone who compromises the safety and security of airports in London can expect a strong response from officers or security staff," he added.
Those released on bail are not to travel within one kilometre of any UK airport unless passing through by vehicle or public transport.
Just Stop Oil wants the UK government to end all new oil and gas exploration and has promised not to let up in its protests until it does so.
Its activists have targeted numerous high-profile events with stunts over the past year, including the Wimbledon tennis tournament and British Open golf tournament, as well as art galleries and museums.
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