The incident occurred shortly after 8:30 a.m. in Winterthur in the canton of Zurich.
The three injured men, aged 28, 43 and 52, were taken to hospital for treatment, Swiss broadcaster RTS reported. One of them is seriously injured, according to Swiss media reports.
"The suspected perpetrator was arrested by police," Zurich police announced.
The arrested person is said to be a 31-year-old man with dual citizenship in Switzerland and Turkey. Mario Fehr, who is responsible for security in the canton, said the incident is being investigated as a terrorist crime.
The man is said to have had previous contact with psychiatric services.
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