The crash happened just before 5 p.m. on the westbound North Loop feeder road at Yale.
The Montgomery County Sheriff's Office said the suspect, who was driving a rented Home Depot pickup truck, was wanted for stealing a "large quantity of Louis Vuitton bags" from a store in The Woodlands.
Authorities say he led deputies south on the Hardy Toll Road and west on the North Loop before running a red light and crashing into a Cadillac and a blue SUV.
The blue SUV was pushed into a METRO bus with 10 people on board.
The Cadillac was sent onto a freeway embankment yards away on the other side of the feeder road.
The suspect was taken into custody after attempting to flee on foot, authorities said.
Eyewitness News crews saw a man in custody, who was then wheeled away on a stretcher and loaded into an ambulance.
This is a developing story. Check back for updates.