According to Turkish authorities, a further 81 people were wounded in the blast, which happened at around 4.20pm on a shopping street in the Taksim Square area of the country’s capital.
As a result, the FCDO advised the impacted area has been cordoned off, and further areas may face temporary closures and travel within the city may be affected.
An FCDO spokesperson said: "The British Embassy is in contact with local authorities and urgently seeking further information following reports of an incident in Istanbul.
"You should remain vigilant, minimise travel around this area, and follow the advice of the local security authorities and/or your tour operator."
Prior to the attack, the FCDO advised against all travel to areas within 10km of the border with Syria, and against all but essential travel to Sirnak and the province of Hakkari.