Sources said the Minister of Defence, Amama Mbabazi, was at the ICC in The Hague over the matter.
The sources said the warrants were are expected any time following a decision by the ICC to indict the eight top rebels.
ICC has said it would not prosecute child soldiers.
“We will investigate all allegations in an independent and impartial way,” said ICC prosecutor Luis Moreno Ocampo at a swearing-in ceremony for The Hague-based court deputy prosecutor, Fatou Bensouda on Monday.
He said they would focus on the rebel leaders who bore the greatest responsibility in the war.
Ocampo said the ICC would work with local leaders to end the 18-year long northern war.
The rebels have mutilated people and kidnapped at least 25,000 children, who are forced to serve as fighters, porters and sex slaves.
At least 1.6 million people have fled their homes and aid workers have declared the region the world’s biggest neglected emergency.
In July, the LRA became one of the first groups investigated for alleged atrocities by the new world court.
The Government has praised the ICC probe but some northern religious leaders have criticised it, saying it will create a crisis of confidence and stop rebels from surrendering.
Scores of the LRA commanders have given up rebellion amid an intensified military campaign by the UPDF against the rebel bases in northern Uganda and neighbouring southern Sudan.
“We know the local community, who have suffered greatly, are working very hard to establish peace, which includes initiatives to establish justice through traditions based on truth, reconciliation and compensation,” Ocampo said.
He hoped that arresting or isolating the top leaders would help them to make peace with others.