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When the PSNI arrived on the scene, they observed that the three buses were totally destroyed, while another had sustained significant damage.
Officers remain at the scene and are carrying out enquiries into what the force is treating as deliberate arson.
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The PSNI said it is particularly interested in hearing from anyone who may have been in the vicinity of the lower end of Seymour Hill housing estate, Seymour Hill Industrial Estate or the Lagan Tow Path between 9.30pm and 10.00pm last night.
Speaking to BBC News NI, Ben Allen, the owner of Allen’s Tours, said that he was at the scene last night and drove one of his buses away from the fire.
He said the damaged vehicles included two coaches, a double-decker bus and an open-top bus.
These four vehicles are among a fleet of six.
“I got a call and got here as soon as I could,” Allen told BBC News NI.
“I actually had to jump into one of the open-top buses to drive it away from the flames.
“I managed to get that one away, but only just.”
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