The interior minister confirmed he was heading to the scene near Saint-Just, a village south of the city of Clermont-Ferrand.
The police officers, including a fourth who was wounded in the incident, were shot by the 48-year-old suspect as they attempted to rescue a woman.
The three officers killed were aged 21, 37 and 45 years old, according to a statement by the French Interior Ministry.
French President Emmanuel Macron expressed his solidarity with the deceased police officers saying in a post on Twitter, "They are our heroes".
The incident occurred when police approached the house shortly after midnight and were targeted by gunfire.
The gunman initially shot and killed one officer and wounded another, before setting fire to the house.
Two further officers, responding to the scene, were then fired on and killed, according to the Clermont-Ferrand prosecutor's office.
Officials said the woman had been safely rescued, and that at least seven elite tactical police officers remained on site.
"The greatest precautions are being taken with regard to the dangerousness of the individual," a source close to the investigation told AFP.
The gunman is said to be known to authorities for charges relating to child custody issues.
Firefighters were also on site attempting to control the blaze. AFP

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