More than 12,000 people are known to have died and thousands of others are missing and believed buried in rubble. The 7.9-magnitude earthquake that struck Monday was centered near Mianyang in Sichuan province, southwest of Beijing. Strong aftershocks Tuesday were felt in the region.
The 2008 Summer Games are set for Beijing in August.
"I feel deeply for those affected and join in solidarity with the people of China," said IOC President Jacques Rogge. "This appears to be a major disaster, the scale of which is only just becoming apparent. We send our deepest felt condolences to the victims and their families."
The IOC, in a release, said its donation would be channeled through the Beijing Games organizing committee to "distribute support to the appropriate relief organizations."