The incident took place last month on a Dukw vehicle operated by London Duck Tours and was attended by a London Fire Brigade boat, Metropolitan Police helicopter, 2 Royal National Lifeboat Institution lifeboats and other Thames passenger vessels.
None of the passengers or crew were seriously injured but Assembly Members say they want to see what learn can be learnt and make recommendations to the relevant authorities.
A new Thames Passenger Boats Investigation Committee has been established to conduct the review which will be separate to the investigation carried out by the Marine Accident Investigation Branch.
Committee member Victoria Borwick AM, said: “Thankfully no one was seriously injured but that does not take away from the seriousness of this incident.
“We know too well how dangerous the Thames can be for passengers and crew and it is important that we conduct an independent review of the fire to ensure relevant lessons are learnt by all.
“The Thames is a great symbol of London and a fantastic tourist attraction, we must ensure it operates to the highest safety standards at all times.”