A report of the blaze on Macdermid Crescent came in at around 4:05 p.m. CT.
Arriving firefighters found the bus engulfed in flames.
Fire department officials said all four children on the bus were safely evacuated by the driver to a nearby home.
The fire was quickly brought under control by crews and put out.
The kids were taken home by another bus. No injuries were reported.
Fire department officials said the cause of the fire, which reportedly started under the hood of the bus, is currently under investigation.