The explosion was detonated several hours after a match between Turkey's top teams, as reported by Reuters quoting interior Minister Suleyman Soylu.
The streets surrounding Vodafone Arena, a new structure, were sealed off by the police. The stadium is home to the Besiktas soccer team.
Witnesses said they heard gunfire in what they believed was an armed attack on police. The area had been cordoned off as smoke rose from the stadium.
A private NTV channel said the target of the attack was a bus for riot police.