The rolling began at 1:43 p.m. PST/12:43 p.m. (Alaska time).
The earthquake was initially reported to be of a magnitude of 3.8, but USGS officials downgraded it to a 3.4.
No damage was reported or expected.
Epicenter was believed to be at 61.820N 150.557W; or 18 miles north of Susitna, 19 miles west of Willow, 24 miles east of Skwentna, and 51 miles north-northwest of Anchorage.
The earthquake was believed to be about 25 miles beneath the surface.
Southern Alaska is one of the most seismically active regions on Earth.
The best-known earthquake in modern Alaska is the 9.2-magnitude earthquake of March 28, 1964.
"Property damage was the largest in Anchorage, as a result of both the main shock shaking and the ensuing landslides," according to the USGS. "This megathrust earthquake also triggered a devastating tsunami that caused damage along the Gulf of Alaska, the West Coast of the United States, and in Hawaii."
It was the second-largest recorded earthquake in world history.