Officers were called to reports of an altercation in Adelaide Road just before 12.55pm today (March 4).
London Ambulance Service crews also attended and found a boy who had been stabbed.
He was treated at scene before being taken to hospital where his condition was assessed as non-life threatening.
Two 14-year-old boys were arrested on suspicion of GBH and possession of an offensive weapon.
They have been taken into custody.
We understand the incident took place at UCL Academy, however, we have contacted to school to confirm.
A spokesperson for Metropolitan Police said: “Officers were called to an altercation at a school on Adelaide Road, Camden at 12:54hrs on Tuesday, 4 March.
“A 12-year-old boy suffered a single stab wound. He was treated at the scene by the London Ambulance Service and later taken to hospital where his injuries were deemed to be non-life-threatening. He remains in hospital under observation.
“Two 14-year-old boys were arrested on suspicion of GBH and possession of an offensive weapon. They have been taken into custody.
“The school is closed and a crime scene is in place.”