Hundreds of people from anti-racism and right-wing groups have clashed in Melbourne’s CBD, with riot police deployed to keep rival demonstrators apart.

Video obtained by 9NEWS shows police working to control the protesters on Lonsdale Street this afternoon.

A small number of demonstrators were pepper sprayed by police after becoming aggressive.

An anti-racism protester was warned by police for yelling at the far-right True Blue Crew.

"They're facists," the man said.

"They have always initiated the violence, they are the ones who have carried weapons."

The controversial leader of the United Patriots Front, Blair Cottrell, spoke at the rally and led the march to parliament.

A right-wing demonstrator defended the march, claiming they had the "right to free speech".

The march, called the "Australian Pride March" was organised to combat "anti-Australian agenda to destroy Australia Day, Anzac Day and any remaining Australian pride gaining momentum", according to the group’s Facebook page.