A firebomb was found on the premises of the store, which was quickly evacuated. It followed a phone call to a media organisation on Friday evening that incendiary devices had been left at two businesses in Cookstown.
The device was found hidden within a fast food container in the Toymaster store on the Dungannon Road.
The shop was evacuated before the device set fire to some surrounding stock and burnt itself out. A supermarket in the town was also evacuated, and a number of other premises were searched.
It's understood shopkeepers in Cookstown had been on alert following a warning from the police on Thursday.