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“I saw hundreds of people run, they ran for their lives,” a witness by the name of Anna told the newspaper, adding that she also fled the scene.
Swedish police were alerted at 2:53pm local time, and officers are currently at the scene, according to SVT.
An AFP report said the vehicle used was a van, rather than a truck.
A witness by the name of Dimitris told Aftonbladet that he saw at least two people run over by the vehicle.
Aftonbladet newspaper has a live video from the scene.
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Broadcaster SVT is reporting at least five people have been killed, but again, this has not been confirmed by police.
Breaking: Swedish Prime Minister Stefan Lofven says everything indicates this is "a terror attack"
Police say they have received information regarding possible shots being fired, but stress this has not been confirmed.
They are telling people to avoid the city centre.
Police say they are investigating a 'deliberate' attack after a truck drove into pedestrians in Stockholm, killing two people.
Swedish prime minister Stefan Lofven says everything points to it being "a terror attack".
Swedish broadcaster SVT says shots have been fired in the area, although security services are yet to confirm.
Sweden's national rail company has said all trains to and from Stockholm's central station have been cancelled for the rest of the day.
The latest images from the scene as police hunt a suspect over the crash:
The image of the wanted man was displayed at a joint press conference held by police and Swedish intelligence agency (SAPO).
"I have a picture of a person who has been seen at the location at this point in time. We want to get in contact with this person," Mats Lofving, head of Swedish police's National Operations Department (NOA).
The grainy image, taken from what appears to be CCTV footage, shows a man wearing a hooded jacket over a T-shirt and dark trousers. The police chief said the image was taken close to the time of the incident in the same vicinity.
A man has been arrested on suspicion of a "terrorist crime" following a truck attack in Sweden's capital city.
Speaking on behalf of the Swedish Prosecution Authority, Karin Rosander said the person was being questioned "on suspicion of a terrorist crime through murder".
Four people were killed and 15 others were wounded after the hijacked beer truck drove through a crowd before crashing into a department store in central Stockholm on Friday afternoon.
Local officials say eight adults and one child remain in hospital.
On Friday, a photo was a released of a man police wanted to talk to about the attack and just hours later they said a man who "matched the description" had been detained.
The family of a British dad have spoken of their devastation after he was confirmed as a victim of the Stockholm terror attack.
Chris Bevington, 41, was among four people who died when a hijacked beer lorry was driven through a crowd and into a department store in the Swedish capital on Friday.
A Belgian and two Swedes were also killed.
The man suspected of carrying out the attack has also been identified as Rakhmat Akilov, according to Sky sources. He is believed to go by a number of aliases.
Police said he was an asylum seeker who had his residence application rejected and was wanted for deportation.
"How do you tell a communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-communist? It's someone who understands Marx and Lenin."
The shameless Stockholm jihadi killer accused of killing four people and injuring 15 others by driving a truck into the city's largest shopping centre has boasted to police interrogators that he is 'pleased with what he has done'.
When questioned by officers, 39-year-old Uzbek fanatic Rakhmat Akilov freely admitted his crime, smirking that he had 'achieved what he set out to do', a source inside the police told the Expressen newspaper.
He also admitted to being part of ISIS and said that the order to launch Friday's atrocity came directly from the group's high command in Syria.
Akilov was detained at around 9pm local time (1900 GMT) on Friday in a northern Stockholm suburb hours after police say he hijacked a truck and ploughed through a pedestrian shopping street in central Stockholm.
10 November 2014 - Rakhmat Akilov applies for a residence permit at the Swedish Migration Board
15 June 2016 - The authorities reject the application and rule that he must be deported
13 February 2017 - Akilov vanishes and a decision is made to refer the case to police to enforce
23 February 2017 - The case is received by police
24 February 2017 - The case is registered in the police system
27 February 2017 - Officers try to locate Akilov but confirm that he has disappeared. Police authorities decide to implement the deportation when he is located
The statement said Rakhmad Akilov, 39, who is now in Swedish police custody, was flagged as a potential threat. Uzbekistan had given information about the man to a western security service partnered with Sweden, it added.
IS recruited Akilov himself after he left Uzbekistan in 2014, Foreign Minister Abdulaziz Kamilov told reporters on Friday.
Last Friday’s assault took place in Drottninggatan, one of the Stockholm’s main pedestrian areas, where a truck ploughed through a crowd, killing four and injuring over a dozen people.
Uzebekistan has said the Stockholm truck attack suspect was linked to IS and that it had warned "Western partners" about him.
The country's foreign minister said it passed information on Rakhmat Akilov to Sweden via another Western nation.
Abdulaziz Kamilov told reporters that Akilov had been recruited by Islamic State after he left Uzbekistan to live in Sweden in 2014.