According to the police, suspect Darrell Brooks from Milwaukee has a significant criminal history, reports Xinhua news agency.
He had been free on a $1,000 bail in an earlier criminal case, in which he was accused of running over the mother of his child in the parking lot of a Milwaukee gas station.
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Addressing the media, Waukesha Police Chief Dan Thompson said the victims were aged betweem 52 to 81, and there were 18 children, aged from three to 16, among those injured.
Of the 18 injured children, 10 were in the intensive care units and six were in critical condition, Thompson added.
The police said preliminary investigation provided no evidence that the incident had terror links.
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The incident took place at around 4.30 p.m. on Sunday in Waukesha, part of the Milwaukee metropolitan area, when an SUV broke through the barriers and sped into the roadway where the Christmas parade was taking place, according to local media reports.
A smartphone video captured the vehicle running through the crowd, hitting pedestrians and accelerating throughout the route.