Ramzi Kysia of the Free Gaza movement said Saturday that the students sailed on the vessel Dignity and reached Cyprus on Friday. He says the students are enrolled at universities in Europe and Canada.
The activists say they shipped out five Gaza students in a previous trip.
A small boat carrying pro-Palestinian activists sailed into Gaza's port Tuesday in defiance of the Israeli blockade on the Strip.
It was the fourth boat of activists to reach Gaza from Cyprus. They said they want to highlight the damaging effects of Israel's blockade. Among the new arrivals Tuesday were British activists who advocate a boycott of Israel's universities.
Iran's Red Crescent announced on Wednesday that it is sending a relief ship to the Gaza Strip, in the face of an Israeli blockade.
"We are sending a consignment of 1,000 tons on a ship to Gaza the beginning of next week," Red Crescent secretary general Ahmad Moussavi was quoted as saying on the organization's website.
"There is the possibility of our ship being blocked just as the Libyan ship was blocked," he added referring to a vessel intercepted by Israel a month ago.
AFP contributed to this report