The collision happened at Harbord Street and Euclid Avenue. Paramedics were called to the scene at approximately 12:20 p.m.
A Toronto EMS spokesperson told CBC News that the injured cyclist is in his 40s.
There was no immediate information available on the circumstances of the crash. The vehicle allegedly involved in the crash had visible damage to its front windshield after the collision.
TTC buses on the 94 Wellesley route were diverting in both directions along Bloor and Bathurst streets, for about an hour, as a result of the crash.