The man driving the van allegedly jumped out of the vehicle with a knife and stabbed one of the victims.
It's believed the group of victims was comprised of ten Muslim men who were run over as they broke their Ramadan fast.
Eyewitnesses reported that they saw bystanders wrestle the driver to the ground and held him until officers arrived.
Some witnesses said the driver of the vehicle is a white man.
The vehicle has reportedly been rented from a company in Wales.
A Met Police spokesman said, "Officers are on scene with other emergency services. There are a number of casualties being worked on at the scene.
"There has been one person arrested.
So it sounds like the incident may have been an anti-Muslim attack, but it is still too soon to know.