The earthquake was recorded at 14:37 GMT 19 kilometers (11.8 miles) northeast of the Tagbina municipality on the island of Mindanao at a depth of 63 kilometers, EMSC data shows.
The earthquake was followed by magnitude 5.7-6.5 aftershocks throughout the day.
The US Tsunami Warning System declared a tsunami alert, which was lifted later in the day. At the same time, the Japan Meteorological Agency warned of a tsunami threat after the earthquake near the Philippines, saying that it expected surge waves of up to 1 meter high (3.2 feet) to reach coastal regions of the country tonight.
There were no immediate reports of casualties or damage.