The driver of a school bus that crashed while carrying dozens of students in regional Victoria has died.

Emergency services, including 10 road and two air ambulances, were called to Wandong Road in Kilmore, 65km north of Melbourne, about 3.45pm on Wednesday.

Police believe the vehicle, carrying 32 students from Assumption College, left the road and struck a tree. Passersby rushed to the scene and helped evacuate students from the bus.

The driver, a 65-year-old Wallan man, died at the scene. One student suffered serious but non-life threatening upper body injuries and was taken to Kilmore Hospital in a stable condition after being treated at the scene.

The school’s principal, Paul Finnernan, spoke on ABC Radio and said the driver was well known to the students and ferried them regularly.

“They loved him … they’re quite upset at what happened,” he said.

The school posted on Facebook that a number of students were treated for minor injuries at the scene by emergency services.

“All are expected to return home this evening. Counselling and other support will be made available to students and families,” the post read.

“Our thoughts and prayers are with all involved in this accident.”

The cause of the crash is being investigated by Victoria Police.

Epping-Kilmore Road is closed in both directions between the Hume Freeway and the Northern Highway.

With AAP