Lincoln High School sent out a text and email alert to parents and caregivers to say the school went into lockdown about 1pm. The lockdown was lifted at about 1.46pm.
Lincoln Primary School on Boundary Rd and Kidsfirst Kindergartens Lincoln, between the primary school and high school, were also put into lockdown.
Said a police spokesperson: "Police were notified of a second-hand report that someone had a firearm in the area.
"Staff are at the scene and confident there is no firearm or immediate threat.
"Police will remain in the area to conduct follow-up enquiries into the report and provide reassurance."
There is still a strong police presence outside the high school.
An email from Lincoln Primary School to parents and caregivers about 1.40pm said the lockdown was initiated due to reports of "an onsite threat".
"The threat was a hoax and no actual threat existed," the email stated.