Dutch media reported that emergency services were deployed in big numbers at the airport.
Dutch newspaper De Telegraaf has reported that an air ambulance is now at the scene.
Police did not offer any more details about the situation. Around 6.5 million people pass through the airport every month, according to statistics published on Schiphol's website.
Air Europe has now confirmed that the hijacking alert was a false alarm.
"The Royal Netherlands Marechaussee is now investigating a situation on board of a plane at Amsterdam Airport Schiphol".
The gendarmerie announced that they were investigating the situation at around 7.30 local time. "We keep you posted".
Reports on Twitter suggest men armed with knives were trying to hijack an outbound flight - and there are suggestions hostages have been taken on board a plane. Eyewitnesses reported that parts of the airport had been closed off and shared images of crowds and confusion.
Whatever is happening at Amsterdam #Schiphol has inbound flights still landing but then holding at remote stands rather than continuing to the terminals.
An arrest team was called to the scene, and the D concourse was partially evacuated, according to Nu.nl.
It later added that "passengers and crew are safely off board".
The speed and effectiveness of the Marechaussee's response has been nothing short of commendable.