Emergency services rushed to the scene just after 2pm today.
Auckland Transport confirmed in a statement that a woman has died.
"Earlier this afternoon our teams were informed of a fatal collision between a bus and a person at the Albany Bus Station," said Stacey van der Putten, AT Director of Public Transport and Active Modes.
"Our thoughts go out to the family and friends of the woman killed as well as those at the scene today who did their best to help.
"The Albany Bus Station will be closed while police conduct their scene investigation. We are redirecting buses to alternative stops nearby and will have staff on site to help direct people to these stops.
"Although we can’t speculate about the cause of this afternoon’s incident, we want to remind people of the importance of allowing extra time and being patient when travelling around Auckland at this hectic time of year."
Paramedics from St John and police officers were called to a "traffic incident".
"Emergency services are in attendance at an incident on Elliot Rose Avenue, Albany, reported at 2.10pm. Cordons are in place," a police spokesperson said.
But a witness told the Herald that he saw a bus "run over" a person crossing a road at the station.
"It was bloody and shocking," said the witness, who asked to remain anonymous.
"We were pulling into the station when we saw it happen. We were told to stay on the bus for five minutes before we could go."
Auckland Transport says Albany Bus Station is "temporarily closed due to an emergency services incident".
St John says it was alerted to a "traffic incident" in Albany at 2.10pm.