The incident occurred near Amarsingh wala village when the bus was on its way to Saraswati school in Goluwala from Surawali with about 40 children, police said.
While seven children killed on the spot whereas four succumbed to their injuries in a hospital.
The deceased were identified as Gagandeep, Sarita, Ayush, Ankit, Sahil, Rajesh, Nakul, Reena, Manju and Lokesh, aged between 1-16 years, police said.
20 injured are admitted to different hospitals in Hanumangarh and Sriganganagar and condition of five was stated to be critical, they said, adding the bus driver was absconding.
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