The seven Dutch nationals were arrested in Amsterdam and Valencia in Spain.
The armed gang, disguised as airport workers, stole the diamonds as they were about to be put onto a plane.
Some of the diamonds were recovered from a getaway car but stones worth an estimated €40m are still missing.
Correspondents say the theft was one of the world`s biggest ever jewellery heists.
The diamonds and other jewellery were stolen in a high security area of the airport after the thieves forced their way into a KLM armoured car.
The seven were detained in raids on Friday and Saturday on suspicion of robbery and money laundering.
The gems were about to be flown to Antwerp, Europe`s diamond capital, when the robbers struck.
World`s biggest jewellery heists
February 2003 - Robbers took jewels then worth €100m (now $140m; £91m) from the Antwerp Diamond Centre in Belgium
February 2005 - An armed gang hijacked a lorry carrying €75m ($100m; £65m) of diamonds and other jewels at Amsterdam airport
December 2008 - Three men stole almost every piece on display at a Paris jewellery exhibition by Harry Winston, totalling €85m ($113m; £73m)
August 2009 - Criminals staged a raid worth €46m ($61m; £40m) on Graff Diamonds in London
July 2013 - An armed man stole jewels worth about €40m ($53m; £34m) from a hotel jewellery exhibition in the French Riviera resort of Cannes
April 2015 - Thieves steal an estimated €16m ($;17m; £14m) of gold bullion, diamonds, jewellery and cash from London`s Hatton Garden area
Amsterdam diamond theft: Seven arrested
22 January 2017
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Five men and two women have been arrested on suspicion of involvement in a €75m ($80m, £64m) diamond heist in 2005 at Amsterdam`s Schiphol airport, police in the Netherlands say.
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