The two drivers were taken to hospital for precautionary reasons.
Lakeshore is now fully open.
Lakeshore Drive was shut down in both directions at 1000 Lakeshore, near the intersection with Ferris Drive just before 9 Thursday morning.
The two drivers were taken to hospital for precautionary reasons. There were no passengers on the bus.
Early indications are that the northbound van strayed over the centre line, sideswiping the southbound school bus. Both vehicles are extensively damaged, however police say the drivers both walked away from the accident.
The road at this point is mostly dry with some snow cover. Snowbanks prevented the van from hitting a rock cut just off the roadway.