Commander Peter Spindler, head of specialist crime investigations, said police had recorded eight allegations against Sir Jimmy, including two rapes.
He later told the BBC there could be up to 30 victims, spanning four decades.
Police said it would be a joint inquiry with children's charity the NSPCC and it would be named Operation Yewtree.
During a press briefing at the Metropolitan Police headquarters in London, police said the alleged victims were mainly girls who were aged between 13 and 16 at the time.
Cdr Spindler said of the eight criminal allegations, six were alleged indecent assaults on young teenage girls.
He praised the alleged victims for "shining a light" on the abuse.
"Information is coming in as we speak probably," said Cdr Spindler.
"The reality is this really has captured the public's mind. We are getting calls from victims, from witnesses and third parties who believe they know something about it."
He said Sir Jimmy's pattern of offending behaviour appeared to be on "a national scale" and he had a "predilection for teenage girls".
Cdr Spindler said the first allegation dated back to about 1959 but most seemed to be in the 70s and 80s.
The briefing was told that a range of different names had been reported to police, as well as Sir Jimmy's.
Police 'assessment'Cdr Spindler said police were not investigating the BBC.
But he said Scotland Yard had been in contact with ITV and the BBC to gather information. He said they were also contacting alleged victims the organisations have been talking to to see if they would co-operate.
Police said they had recorded eight allegations against Sir Jimmy Asked if allegations related to any institutions other than those mentioned in previous claims - the BBC, Jersey children's home Haut de la Garenne, or Duncroft Approved School in Staines, Surrey - he said he had contacted Stoke Mandeville Hospital and Leeds Royal Infirmary.
Cdr Spindler said police wanted a swift conclusion to what he described as an "assessment" rather than an investigation.
He said it was being carried out by Scotland Yard and being led by its serious case team, which looks at complex and historical cases.
Seven staff are working on it, and this would be increased to 10 on Wednesday, he added.
Cdr Spindler said a provisional search of Scotland Yard's records could not find any record of any previous investigation into Sir Jimmy, and they were only aware of the previous involvement of Surrey Police.
The aim of the investigation is to produce a final joint report with the NSPCC, looking at the lessons learned and sharing the findings with other relevant agencies, he said.
Police hope to produce the report by the end of next month.
Peter Liver, of the NSPCC, said the charity had had 17 calls to its helpline directly related to the allegations.
'Comprehensive examination'On Monday, chairman of the BBC Trust, Lord Patten, said any BBC inquiry would take place after the police investigation.
He said the corporation must "command credibility" in how it dealt with the allegations.
Earlier on Monday, BBC director general George Entwistle promised a "comprehensive examination" of allegations that Sir Jimmy abused girls while working for the corporation.
He also apologised to women involved "for what they've had to endure here".
Sir Jimmy died in October 2011, at the age of 84.
The face of Top of the Pops in the 1960s, he hosted TV favourite Jim'll Fix It on BBC 1 in the 1970s and 1980s and was knighted in 1990 for his charity work.
But recently allegations have emerged about serious sexual assaults on under-age girls at the height of his fame.
Some of the allegations - publicised in an ITV documentary - refer to incidents on BBC premises.
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