The video from Wednesday afternoon shows the bus with 11 school children on board swerve into a ditch and almost tip over.
Authorities in Aitkin County say the bus careened and weaved at speeds of 35 to 40 mph - at one point narrowly avoiding a head-on collision with another car.
To stop the bus, Minnesota state troopers blew out its tires.
"That's not something that any of us would expect when we hop on in any vehicle, let alone a school bus," said Aitkin County Sheriff Scott Turner.
No children inside the bus were injured.