The Queenstown Lakes District Council advised of the closure, at the Blue Slip, this evening.
The council said crews would assess the road early next week, and updates would be provided "as soon as possible".
The closure comes after a heavy dump of snow hit the Queenstown and Central Otago areas today, closing schools and roads, and cutting power to thousands.
By mid-afternoon, conditions had eased markedly and all affected highways had reopened, and power had been restored to most consumers.