The five victims, including a seriously injured woman and child, were quickly transported to local hospitals. The area is located near the Rotunda Hospital and Gaelscoil Cholaiste Mhuire school.
According to RTÉ, the incident took place around 2 pm on Parnell Square East, right in the center of the Irish capital. The suspect, who also sustained injuries and is in hospital, allegedly approached the group, attacking the woman before going after the children.
Ireland's police force, the Gardaí, have not revealed a potential motive, and do not believe it is terrorism-related.
Justice Minister Helen McEntee said in a statement that she was "deeply shocked by the appalling attack," adding, "This attack has shocked us all, and I have no doubt that the person responsible will be brought to justice, however, my thoughts now are with the innocent children and the woman who have been attacked, their families, and those who are caring for them at this time."
This is a breaking story and will be updated.