Winds gusting to 300km/h at the centre will generate gales for 200km around the cyclone's centre.
Emergency services warned the winds could easily roll cars and strip roofs off buildings, turning them into lethal missiles. About 9000 people are expected to be affected.
More-populated areas to the south will suffer less as Ita weakens over land, but winds of up to 120km/h will reach Port Douglas and Cairns today.
Ahead of its expected landfall between Cape Flattery and Cooktown Ita will drive storm surges up to 2m high along the far north coast, bringing potential devastation to coastal communities.
At Cooktown, the surge was expected to hit the Endeavour River - where Captain James Cook careened his ship after striking the Great Barrier Reef in 1770 - close to high tide, adding to the threat of wind and rain.
Torrential downpours of up to 300mm every six hours for several days after Ita passes are expected to cause widespread flooding, inundating towns and farms and isolating small communities, possibly for weeks. Electricity authorities warned some areas could be without power for up to a month.
Many homes and businesses are likely to be lost. As many as a third of the houses in Cooktown were built before tough new building codes were introduced in 1985, leaving them open to destruction.
"They probably won't withstand the impact," Queensland Premier Campbell Newman said.
The region's big banana crop, a major contributor to the local economy, is expected to suffer heavy losses. Farmers have been frantically trying to pick and store as much as they can.
The struggling pastoral beef and cattle industry is also likely to be battered.
As Ita neared extra emergency teams and equipment were moved into the area, with other units assembled further south to help after Ita passes. The military is also on standby.
Yesterday afternoon, hundreds of people were locked down in emergency shelters in towns in Ita's path and Cooktown hospital was cleared of all but its most serious cases to prepare for the worst.
Shops were packed as people stocked up on food and other supplies.