The earthquake struck near San José del Palmar in the Chocó region, around 400 kilometres west of the capital Bogotá.
The US Geological Survey (USGS) said the quake occurred at a depth of about 107 kilometres.
The tremors were felt across a large part of Colombia and in neighbouring Ecuador.
Residents in Bogotá also rushed out of buildings as the ground shook, although there were no immediate reports of major damage in the capital.
Pereira reports 18 deaths
Pereira emerged as one of the worst-hit cities, with Mayor Mauricio Salazar saying 18 people had died there. He described the situation as "critical", Reuters reported.
Local footage showed damaged and collapsed structures in Pereira and other cities across Colombia.
धरती हिल रही हो, पाँव ज़मीन पर टिक न रहे हों और सामने बड़ी-बड़ी इमारतें ढहती दिख रही हों तो आप क्या करेंगे?
— Mukesh Mathur (@mukesh1275) August 10, 2026
columbia के Pereira में आए 7.4 तीव्रता के भूकंप का रोंगटे खड़े कर देने वाला दृश्य।#earthquake https://t.co/8hfuqgCT0a pic.twitter.com/wqXfTuRd1z
Emergency teams were deployed to search collapsed buildings and assess the scale of the destruction.
Reports from local authorities indicated that several people remained trapped beneath debris, while many others suffered injuries.
Severe damage reported in Quibdó
Chocó Governor Nubia Córdoba said there were injuries and serious damage to buildings in Quibdó, the regional capital.
Videos and images circulating in local media showed homes and smaller buildings collapsing in Pereira, Cali and Quibdó.
COLUMBIA EARTHQUAKE
— EmergencyStream (@EmergencyStream) August 10, 2026
Reports of Major Damage.
WATCH STREAMING VIDEO. @EmergencyStream pic.twitter.com/SWO7yiWmla
In Manizales, a tower of the city's neo-Gothic cathedral reportedly collapsed onto the nave.
Cali Mayor Alejandro Eder said residents were trapped in at least 19 collapsed buildings, according to The New Indian Express, citing local reports.
Airports suspended, inspections underway
Colombia's civil aviation authorities suspended flights at airports in Pereira, Manizales, Quibdó, Armenia, Cartago and Buenaventura while officials inspected facilities for structural damage, RTHK reported, citing AP and Reuters.
The earthquake also triggered evacuations in Bogotá, with residents gathering outside buildings as a precaution.
Emergency authorities warned residents to remain alert amid concerns about possible aftershocks.
Government takes charge of rescue efforts
Colombian President Abelardo de la Espriella said he had personally taken charge of the government's response to the disaster.
"You are not alone. The state is present and taking action," he said, according to reports.
Emergency and rescue teams were continuing to assess the damage and search affected areas, with authorities warning that the casualty figure could change as rescue operations progress.
The US tsunami warning system said there was no tsunami warning following the earthquake.
The earthquake was initially measured at a lower magnitude by Colombia's geological service before being revised to 7.4, according to Al Jazeera's report citing the USGS and Colombian geological authorities.
The latest disaster comes weeks after two powerful earthquakes struck Venezuela in late June. Those 7.2- and 7.5-magnitude earthquakes killed thousands and destroyed hundreds of buildings, according to reports.