Soldiers participating in the mutiny are heading to state-owned TV studios to announce a coup d'etat.
The coup is being staged against the French-backed president Bobucar Keita.
Heavily armed vehicles are on the way to center of Bamako.
According to local source, several ministers have been arrested and the president has been evacuated to a military base.
Rebelling soldiers have reportedly taken the presidential palace according to several local sources.
In recent months, tens of thousands of Malians have taken to the streets, in protests fueled by pervasive corruption, extreme poverty, and protracted conflict in the country.
The mutiny risks further destabilizing the county already battling an alarming rise in violent extremism.
ILKHA