The Observatory issued the Strong Wind Signal No. 3 at 2.20pm on Saturday.
It advised people to stay away from the shore and not to engage in water sports, as winds with mean speeds of 41 to 62 kilometres per hour are expected.
The Observatory said it will consider issuing the Gale or Storm Signal No. 8 in the early hours of Sunday, depending on the distance and intensity of Wipha from the Pearl River Estuary.
The Hong Kong-Zhuhai-Macau Bridge will be closed from 11pm on Saturday until 8am on Sunday.
The decision was made after joint consultation between authorities in Guangdong, Hong Kong and Macau to ensure traffic safety.