Four men wearing masks entered the property on the Boleran Road in Garvagh about 20:00 BST on Thursday.
Two of the men, armed with a screwdriver and poker, held the couple in the kitchen while the others ransacked the house.
The gang left a short time later but police said it was unclear at this stage if anything was taken.
The couple, a man in his 90s and a woman in her 70s, were not physically harmed during the incident, but were treated for shock.
Police have appealed for anyone who saw a white coloured pick-up type vehicle being driven on the Boleran Road or in the general Garvagh area on Thursday to contact them.
DUP MLA for East Londonderry, Adrian McQuillan, said: "I totally condemn those responsible for this barbaric act of burglary and appeal to anyone with information to bring it forward to the PSNI."
An elderly couple have been held by a gang armed with a poker at their home in County Londonderry.