Toronto police say they were called to the scene of the collision at Sheppard Avenue West and Kodiak Crescent shortly after 11:30 a.m.
Initial reports from the scene suggested that one person had been trapped as a result of the crash.
A Toronto EMS spokesperson told CBC News that there were seven passengers within the two vehicles.
Only one passenger has been taken to hospital so far. The other six passengers were being treated at the scene by paramedics.
Police say the crash has led to a partial road closure:
The TTC says its 84 Sheppard West and 106 York University buses are having to divert in both directions because of the crash.