Two men have been arrested - the first on suspicion of being in possession of an offensive weapon and affray, the second on suspicion of affray and assaulting a police constable.
No one was injured during the incident and both men remain in custody at a north London while enquiries continue.
"Police were called at 13:46hrs today, Monday, 29 February, to Hatton Gardens to reports of a man with a knife, making threats," a Metropolitan Police spokesman told City A.M.
Several pictures posted on social media showed police officers pinning someone to the ground.
Good fun on Hatton Garden pic.twitter.com/VvkJsqYuh2— Jonathan Franks (@JonFranksRS) February 29, 2016
It's all kicking off on Hatton Garden!! 🚓🚓🚓 pic.twitter.com/iUJYxp9zyk— Alex France-Hume (@alex_france) February 29, 2016
Stabbing and lots of police in hatton garden pic.twitter.com/VfWA9ciHVK— Sharon's Stones (@Sharons_Stones) February 29, 2016
Hatton Garden raid part duex!? pic.twitter.com/vsWfHkua3f— Matt Spink (@spinktank) February 29, 2016
The incident took place just down the road from Hatton Garden Safety Deposit, made infamous by the jewellery heist that took place last year.
Last month three men were found guilty of stealing £14m-worth of jewellery. The ages of the men, six of whom are due to be sentenced on 7 March, ranged from 48 to 76.
More to follow...