The driver of the bus, a male aged in his 50s, died during the incident.
A male pedestrian in his 60s was fatally injured during the incident.
The road is currently closed to allow for Forensic Collision Investigators to carry out a technical examination. Local diversions are in place.
Gardaí in Togher are appealing for any witnesses to this collision to come forward.
Any road users who were travelling on the Strand Road between 1.15pm and 1.45pm this afternoon, and who may have camera footage (including dash cam), are asked to make this footage available to investigating Gardaí.
Anyone with any information is asked to contact Togher Garda Station on 021 494 7120, the Garda Confidential Line on 1800 666 111, or any Garda station
Investigations are ongoing.
