Monday's quake struck at 9.43am local time at a shallow depth of 10 km, east of the remote Loyalty Islands, the United States Geological Survey says.
The Pacific Tsunami Warning Centre said hazardous tsunami waves were possible along the coastlines of New Caledonia and Vanuatu.
"Government agencies responsible for threatened coastal areas should take action to inform and instruct any coastal populations populations at risk," the PTWC said in an alert.
New Zealand officials say there is no tsunami threat.
New Caledonia is about 2300km north of New Zealand.
NZ Civil Defence says there is no tsunami threat.
"Based on current information, the initial assessment is that the earthquake is unlikely to have caused a tsunami that will pose a threat to New Zealand," it tweeted.