The quake took place 10km deep and 722km from Akureyri, Iceland.
There is no yet known information of whether the quake has disrupted the island’s volcanic activity.
The earthquake struck at 1:49am GMT and its epicentre was in a remote area of the ocean around 253 miles east of Ittoqqortoormitt in Greeland.
The force caused local waves to appear in the Greenland Sea.
However, the US Tsunami Warning System said it is not expected to cause a tsunami in more populated areas.
The island is mountainous, the largest mountain being the volcano Beerenberg in the northeast.
It is the world’s northernmost active volcano that is not underwater.
Beerenberg’s most recent eruptions took place in 1970 and 1985.
Jan Mayen has felt six earthquakes in the past year.
The tip of the island overlaps with the so-called Jan Mayen Fracture Zone, a transform fault which displaces the Mid-Atlantic Ridge by about 150km.
There are no reports of damage or injuries after the earthquake, according to the police.
The only people on the island are military personnel from the Norwegian Armed Forces.
The meteorological station is located just a few kilometres away from the settlement Olonkinbyen, where all personnel live.
During this time of year, there is no sunshine in Jan Mayen at all and there is an average daily temperature of -3 degrees Celsius.
More to follow…