"A massive crowd has also converged on the main square in Ouagadougou and is marching towards the presidential palace, which is about 5km (three miles) away, our reporter says.
A government helicopter flying overhead was firing tear gas at them, Reuters reports.
There are also reports of protests in the south-western city of Bobo Dioulasso.
The government has been forced to suspend Thursday's parliamentary vote on a constitutional amendment that would have lifted the limit on presidential terms so that Mr Compaore could run for office again in 2015.
It is not clear whether the government intends to hold the vote at a later stage, correspondents say.
Mr Compaore is a staunch ally of the US and France, which uses Burkina Faso as a base for military operations against militant Islamists in the Sahel region.
Both France and the European Union (EU) have called on him to scrap the proposed constitutional amendment.
The EU said it could jeopardise Burkina Faso's stability. The US has also raised concern about the proposed amendment."
Full article: http://www.bbc.com/news/world-africa-29831262