A TWO-ENGINE Qantas aircraft has made what the airline calls a "priority landing" on Lord Howe Island following engine failure, an airline spokeswoman says.

The Qantas spokeswoman said flight QF2260 from Sydney to Lord Howe Island, which was carrying 23 passengers and three crew members, experienced an oil-pressure issue with one of its engines about 2pm (AEST).

The engine of the Dash 8-200 aircraft was shut down according to standard operating procedures and the plane landed at Lord Howe Island within five minutes of its scheduled time, the spokeswoman said.

She added that Qantas engineers were being flown out to the island to access the plane.

Read more on the Brisbane Times.