The local disaster reduction office reported that a woman from Tagum City in Davao del Norte province was killed when a wall of her house collapsed, reports Xinhua news agency.
Her husband and child were injured.
The National Disaster Risk Reduction and Management Council was still assessing the quake's impact and has yet to confirm any quake-related deaths or injuries.
In an updated report on Sunday, the Philippine Institute of Volcanology and Seismology upgraded the magnitude of the earthquake from 6.9 to 7.4.
The institute said the quake, which occurred at 10.37 p.m. on Saturday night, hit at a depth of 25 km, about 30 km northeast of Hinatuan town.
The institute said the tectonic quake, which was felt in parts of Mindanao island and central Philippines, will cause damage.
The institute has recorded over 500 aftershocks till Sunday morning, some with magnitude of over 5 and 6.
The institute also issued a tsunami warning on Saturday night, prompting residents living in the coastal areas close to the epicenter to evacuate to higher grounds or move farther inland.
The residents returned home after the institute lifted the tsunami alert.
Philippine Coast Guard said on Sunday morning that all vessels and aircraft were placed on alert to be ready for dispatch.
Last month, a 6.8-magnitude offshore earthquake, hitting about 34 km northwest of Sarangani town with a depth of 72 km, led to at least nine deaths, according to authorities.
The archipelagic Philippines has frequent seismic activities due to its location along the Pacific "Ring of Fire".
(IANS)
