Emergency services – including firefighters from both Ryde and Shanklin – were alerted to the 2-car collision at the junction with Regent Street at just before 14:00.
No one has been seriously injured in the incident, which has involved a Renault Clio and a VW Fox.
The road is currently closed whilst the area is cleared. Firefighters are making the scene safe following a fuel leak.
UPDATE @ 14:55 – The Isle of Wight Fire and Rescue have now left the scene and returned to station.
High Street/North Road has now reopened.
Recovery of the vehicles has been arranged.
Please note: the vehicles have been moved from their original resting place in the above photographs