Twenty fire engines and 100 firefighters fought through the evening to control the huge blaze on Chalk Farm Road.
The fire is believed to have started at around 7.10 pm at the Canal market. But flames spared the main market.
London Fire Brigade PR officer, Guy Foster, confirmed there have been no report of casualties, and no rescue operations were required. He said: "Crews were faced with a very severe fire, close to a number of properties, with extensive damage already done to a number of market stalls."
Mr Foster said investigation teams were yet to locate where or how the fire started.