The incident, between junction 9 and junction 10 eastbound, has seen the outside lane closed while the situation is resolved.
Motorists are being warned of short delays on approach.
The spill happened at 3.40pm.
Romanse, Hampshire County Council’s live traffic feed, posted on Twitter: ‘Eastbound - Lane 3 CLOSED due to oil spill between J9 and J10. Short delays on approach.’
Traffic officers are at the scene and Highways England said they were dealing with a ‘large amount of diesel’.
One lane has also been closed on the westbound route between junction 9, at Fareham, and junction 8 at Park Gate after two vehicles broke down.
Highways England said recovery vehicles were en route.
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