The blast in Shangla district, which borders the Swat Valley, comes ahead of a suspected surge by Pakistani troops against Taliban militants in South Waziristan.
The country's airforce began bombing selected targets on Monday as a precursor to a full-scale ground assault.
Swat was reclaimed from Taliban fighters in June, with sporadic incidents of violence since then.
Today's blast hit a market in Alpurai as a security convoy passed through a busy crossroads, Al-Jazeera reported.
More than 40 people are thought to have been injured in the blast.
The Taliban today also claimed responsibility for an attack upon the army headquarters in Rawalpindi, which it said was a revenge raid for the death of Taliban in Pakistan leader Baitullah Mehsud by a US drone.
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