A 7.4 magnitude earthquake struck off the southern coasts of Chile and Argentina, the United States Geological Survey has reported.

Chilean authorities issued an evacuation alert on Friday for the entire coastal section of the Strait of Magellan, in the country's far south.

The quake struck approximately 219 kilometres (136 miles) south of Argentina at 1258 GMT at a depth of 10 kilometres, according to an initial assessment by the agency.

Argentine authorities did not issue any immediate reports of casualties or damage.

However, Chile's Hydrographic and Oceanographic Service (SHOA) estimated the quake's magnitude at 7.8, locating it 305 kilometres south of Puerto Williams and issuing a tsunami warning to coastal areas.

As a precaution, Chile's National Disaster Prevention and Response Service (SENAPRED) has ordered the evacuation of beaches in the Antarctic Territory and Magallanes Region.

Chilean President Gabriel Boric Font urged residents to follow official instructions, stating, X: “We call for evacuation of the coastline throughout the Magallanes region. Our duty is to be prepared and heed the authorities.”