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Residents fled into the street after the blaze broke out at around 8:45pm on Saturday evening at Ocean Way Residence on Ocean Way, Leith.
Footage on social media showed smoke and flames rising from what appeared to be a top floor balcony at the block of flats.
At least five fire appliances plus police and ambulance attended the scene.
Residents were evacuated to the nearby Gentings Casino situated opposite.
Two police officers who were first on the scene and two residents were taken to hospital suffering smoke inhalation.
A police cordon was put in place at Ocean Way while emergency services continued battling the blaze.
The cause of the fire is being investigated but is not thought to be suspicious.
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