Emergency services are currently at the scene of a collision between a bus and a truck at the intersection of Exford Road and Murphys Road in Eynesbury.
At this stage investigators believe there was a collision between the truck and a bus carrying up to 45 child passengers about 3.40pm.
All children have been removed from the bus and are being treated by ambulance services or have been taken to hospital.
It is believed that up to eight children have received serious injuries.
The male driver of the bus suffered minor injuries and the male driver of the truck is currently assisting police with their enquires.
Detectives from Major Collision Investigation unit have been notified and are attending the scene.
Anyone who witnessed the collision, with dashcam footage or information is urged to contact Crime Stoppers on 1800 333 000 or www.crimestoppersvic.com.au.