The quake struck at a depth of 40.5 kilometres around 12 miles off the coast of Avri, a seaside village in the southern part of the island, according to the Athens-based Geodynamic Institute. The strong tremor occurred at around 7.30pm local time (5.30pm UK time).
The fire brigade and police said they had received no immediate calls for help or reports of damage.
Local reports say that the shaking was felt as far away as Chania in the north of the island.
The quake happened as Cretans and other islanders in the region brace for a rare hurricane-like storm.
Crete has been stuck by a 5.4 magnitude earthquake
The earthquake happened as Cretans prepare for a hurricane-like storm this weekend
Storm Ianos is set to bring torrential rain and power cuts to parts of Western Greece.
The cyclone is fast moving eastwards and is on track to bring winds of up to 73mph this weekend.
The Peloponnese region is set to be hit first before the storm makes its way to Athens and Crete.
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Crete’s tourism sector suffered this summer due to the pandemic
Crete is the Mediterranean’s fifth largest island
Crete and Athens are set to be lashed by Storm Ianos this weekend
During the summer months its population swells as holidaymakers flock to the fifth largest Mediterranean island.
Greece is one of the most earthquake-prone countries in the world.
Crete itself has a high occurrence of quakes, most of which do not result in fatalities or serious damage.
The world’s deadliest earthquakes
However, a deadly earthquake struck Greece in 1999, killing 143 people.
The tragedy struck near the capital Athens.
In May a huge 6.5 magnitude earthquake struck the south of Crete.
Cretans are preparing for Storm Ianos this weekend
The powerful tremor was felt across the island.
No casualties were reported.
It happened at a depth of six miles, according to the European Mediterranean Seismological Centre (EMSC).