The incident occurred on Vibhavadi Rangsit Road in the capital, Bangkok, according to the Thai public broadcaster, according to the Anadolu Agency.
At least six students and three other teachers, who had traveled from northern Uthai Thani province, managed to escape the fire.
The group was on a one-day sightseeing trip in the Thai capital. Initial reports indicate the students were between three and nine years old.
Reacting to the incident, an emotional Prime Minister Paetongtarn Shinawatra said, "As a mother, I would like to express my deepest condolences to the families of the injured and deceased."
"The government will take care of the medical expenses and provide compensation to the families of the deceased," she added.
MNA