Police said it was an attempt to target the former president, however, no casualties were reported.
The blast struck a bridge on Pervez Musharraf’s route from a hospital in Rawalpindi, where he was being treated.
Pervez Musharraf, 70, was admitted to hospital for chest pain in January on his way to court at the start of his trial for treason.
Earlier this week, the former army chief was charged with five counts of treason over alleged constitutional violations during his time in power.
The former president has denied the charges and says all the accusations against him are politically motivated.
The blast reportedly struck Faizabad Bridge late on Wednesday night, as Pervez Musharraf was being transported from a military hospital to his farm house on the outskirts of Islamabad.
It is not clear whether the bomb exploded before or after Pervez Musharraf’s convoy passed, however, one police official quoted by the AFP news agency said the bomb exploded before he crossed the bridge.
“Four kilograms of explosive device planted in a pipeline under a bridge exploded around 20 minutes before the former president was supposed to cross the spot,” senior police official Liaqat Niazi said.
Pervez Musharraf was taken home via an alternative route, he added.
His spokeswoman, Aasia Ishaq, confirmed that he had reached his home safely, according to Associated Press.
There has been no claim of responsibility for the attack, which police say they are investigating.
Pervez Musharraf has survived numerous assassination attempts and plots against him during his time in power.
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