In this study, Gravity Recovery and Climate Experiment (GRACE) RL05 data from January 2003 to October 2014 were used to extract the coseismic gravity changes induced by the 24 May 2013 Okhotsk Mw8.3 deep-focus earthquake using the difference and least square fitting methods. The gravity changes obtained from GRACE data agreed well with those from dislocation theory in both magnitude and spatial pattern. Positive and negative gravity changes appeared on both sides of the epicenter. The positive signature appeared on the western side, and the peak value was approximately 0.4 microgal (1 microgal = 10−8 m/s2), whereas on the eastern side, the gravity signature was negative, and the peak value was approximately −1.1 microgal. It demonstrates that deep-focus earthquakes Mw ≤ 8.5 are detectable by GRACE observations. Moreover, the coseismic displacements of 20 Global Positioning System (GPS) stations on the Earth’s surface were simulated using an elastic dislocation theory in a spherical earth model, and the results are consistent with the GPS results, especially the near-field results. We also estimated the gravity contributions from the coseismic vertical displacements and density changes, analyzed the proportion of these two gravity change factors (based on an elastic dislocation theory in a spherical earth model) in this deep-focus earthquake. The gravity effect from vertical displacement is four times larger than that caused by density redistribution.