A police spokesperson said a crowd had gathered at Carmel Street in the area known as the 'Holy Land'.
It is understood a number of missiles were thrown at police.
A car was also damaged during the trouble.
The area, mainly populated by students, has been the scene of disturbances on St Patrick's Day in previous years.
Alliance party South Belfast Assembly member Anna Lo called on students to act responsibly and consider the impact of their actions on residents following the events.
She said everybody should have a good time celebrating St Patrick's Day, but not at the expense of others.
She said students needed to consider the consequences of their actions.
'Students should behave themselves like the grown ups that they are,' Ms Lo said.
'Both Universities have done great work in trying to deal with the problems in the Holylands area, but after watching today's events it is obvious that more must be done.'
