Nobody has been convicted or jailed for Bhutto's assassination on December 27, 2007, in Rawalpindi, after she addressed an election rally.
Police say that three other suspects in the high-profile case have been killed -- including the chief of the Taliban, Baitullah Mehsud -- and two remain at large.
"Seven accused including two police officers have been indicted," public prosecutor Chaudhry Azhar told AFP. The police were arrested a year ago while the suspected militants have been in custody for nearly four years.
The police officers were Saud Aziz, who was the Rawalpindi police chief at the time of the killing, and Khurram Shahzad, another senior policeman.
The seven were indicted at the court in a high-security prison in Rawalpindi.
The five alleged militants are accused of "criminal conspiracy" for bringing the suicide bomber from the tribal belt in the northwest and keeping him at a house in Rawalpindi.
"(All) the accused denied the charges and demanded for trial," Azhar said, adding that the police officers were accused of a security breach and for their "failure" to protect Bhutto.
At the time of her death, then President Pervez Musharraf blamed Mehsud for the killing.
The anti-terror court in August ordered the confiscation of Musharraf's property and the freezing of his bank accounts in Pakistan, the prosecutor said.
Bhutto, who served two terms as prime minister, had returned from exile two months before she was killed to stand for election.