The earthquake was recorded at 06:48 GMT, according to the USGS. Its epicenter was located 65.8 miles south of the city of Sand Point at the depth of 20.3 miles.
The US Tsunami Warning System of the National Weather Service issued a tsunami advisory.
No casualties or destruction have been reported so far.
Following the issue of the advisory, the 7.4 magnitude earthquake was downgraded to 7.2.
Later on Sunday the tsunami advisory was canceled.
"The Tsunami Advisory is canceled for the coastal areas of South Alaska and the Alaska Peninsula," the US National Weather Service said in a statement.