Crowds of schoolchildren were seen running through the city centre shouting and screaming before congregating at the bus station.
Officers from West Midlands Police and British Transport Police, alongside community support officers, were called to Market Street in Wolverhampton after reports of a disturbance involving schoolchildren.
The incident, which happened around 4.15pm on Friday, saw dozens of schoolchildren rushing down Castle Street and Queen Street shouting and screaming as police officers attended the scene.
People stood on Market Street waiting for buses or shopping on the street watched as Enjoy Wolverhampton ambassadors attended the scene to help police officers and community support officers with clearing the area.
Police officers were also seen down at Wolverhampton bus station as a large number of schoolchildren congregated inside and outside the entrance to the station, with a few heading back up Queen Street.
Officers at the scene said they were still working out what had happened, although one person, who didn't want to be identified, said he had seen a girl being led away from the scene by police.
Inspector Steve Edwards, from Wolverhampton Police, said: “Just after 4pm we broke up a fight between around 40 schoolchildren, on Market Street in the city centre.
“A 14-year-old girl was taken home for her parents to deal with and a dispersal order was put in place within the ring road. This gives us the power to tell people to leave the area. This will only be in place until 6pm.
“The headteachers of the schools that the children attend will be told what happened.”