Police and army bomb experts carried out searches after a report that a suspicious object had been left in the Drumilly Road area on Friday afternoon.
The road was closed at its junction with the Portadown Road and the Drumanmore Road.
On Friday night, local DUP Councillor Gareth Wilson said: "Speaking to police there is some concern that possibly a device of some form may have been discarded."
The alert continued overnight. No device was found and the security operation has now ended, a PSNI spokeswoman confirmed.