Fifteen people are believed to have been freed so far, and according to army captain Enrico Illeto, negotiations are continuing to secure the release of the rest of the group.
Gunmen, believed to be former government militiamen, carried out the abductions in the remote village of San Marin in Agusan del Sur and the local school, the Associated Press news agency reports.
The region has been plagued by banditry in recent years with Muslim and communist insurgents continuing to fight government forces.
Last month 57 people travelling in an election convoy were killed in the southern province of Maguindanao.
It is unclear how many children remain in the 60 still being held hostage.
Gunmen, believed to be former government militiamen, carried out the abductions in the remote village of San Marin in Agusan del Sur and the local school, the Associated Press news agency reports.
The region has been plagued by banditry in recent years with Muslim and communist insurgents continuing to fight government forces.
Last month 57 people travelling in an election convoy were killed in the southern province of Maguindanao.
It is unclear how many children remain in the 60 still being held hostage.
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