The crash happened near the Wascana Creek bridges at about 8:30 a.m. and involved three vehicles.
All vehicles were travelling in the southwest bound lanes.
Regina police said the bus was carrying 11 passengers, all elementary students.
EMS was called to the scene, but police confirmed there were no injuries to report.
Regina residents woke up to snow and icy conditions on Wednesday, which police say may have been a factor in the collision.
Traffic is expected to remain slow-moving until the afternoon, according to police.
Police said they are still investigating and do not know at this time if charges will be laid.