The quake's epicenter was located near the city of Concepcion, 212 miles (341 kilometers) from the capital of Santiago. It struck at 3:34 a.m., when people were sleeping.
The Pacific Tsunami Warning Center issued a tsunami warning for Chile and Peru. The center recorded a tsunami wave as high as 9 feet.
"An earthquake of this size has the potential to generate a destructive tsunami that can strike coastlines near the epicenter within minutes and more distant coastlines within hours," the National Weather Service said in a statement.
Chile holds the record for the largest earthquake in the world, according to the USGS. A magnitude 9.5 quake struck the South American country in May 1960 and killed 1,655 people.