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A shallow magnitude 7.4 earthquake has struck the Philippines, prompting tsunami alerts.

The quake struck in the Mindanao region at a depth of 62 kilometres.

The Philippine Seismology Agency said a destructive tsunami “with life-threatening wave heights” is expected.

Hazardous tsunami waves are possible for coasts located within 300km, an alert said.

Indonesia also also issues its own tsunami warning for North Sulawesi and the Papua regions, according to Reuters.

There are no immediate reports of damage, the Guardian reported.

Officials in the Philippines have warned residents to expect waves above normal tides in the next two hours.

Multiple aftershocks have already struck the area, including a 5.9 and a 6.0 magnitude quake within the last half hour.

This comes after a powerful earthquake struck the central Philippines on October 1.

The shallow quake killed at least 60 people and severely damaged buildings and infrastructure in cities nearby.

More than 150 were believed to have been injured.

The 6.9 magnitude quake struck around 10 pm local time, just west of Palompon and close to the city of Bogo in Cebu province, CNN reported.

The Philippines sits along the Ring of Fire, a 40,000km arc of seismic fault lines encircling the Pacific Ocean.

It is home to over half of the world’s volcanoes and frequently struck by powerful earthquakes.

- Additional reporting RNZ