Police officers attended an address in Palace Green, Kensington just after 11 p.m. local time following reports of a burglary in which a number of items of jewelry were stolen, according to a statement from the Metropolitan Police.
"At this time we are investigating this as an isolated burglary and we are retaining an open mind around other lines of inquiry," said Detective Sergeant Matthew Pountney, from Central West Command Unit.
"Police were called by security within the building to three males who had been present inside the property and a fast-paced investigation is underway to locate the suspects and missing items."
No arrests have been made and inquiries continue following the incident, police said.
Ecclestone is known as a model, television presenter and socialite, as well as being the daughter of former Formula 1 Chief Executive Bernie Ecclestone.
"I can sadly confirm there has been a home invasion. Internal security are cooperating with police in this matter," a spokesman for Tamara Ecclestone told the Press Association news agency.
"Tamara and family are well but obviously angry and shaken by the incident."
British tabloid The Sun reported that £50 million ($67 million) in jewelry had been stolen by thieves who entered the property and smashed their way into safes hidden in the bedroom Ecclestone shares with husband Jay Rutland.
"Every piece of jewellery in the £70 million mansion is said to have been swiped in a 50-minute raid — just hours after the F1 heiress, 35, left the country for her Christmas holidays," wrote The Sun, citing a neighborhood source.