The seizure of a record amount of the drug ice by Australian police has dealt a serious blow to organised crime, Justice Minister Michael Keenan says.

The 903kg haul valued at almost A$900 million was on its way to Melbourne when it was intercepted by a joint operation involving Australian Federal Police and Victoria Police.

"This successful result cannot be under-estimated. It is a very serious blow to organised crime around the country," Keenan told reporters today.

AFP images show the massive amount of crystal methamphetamine, equivalent to nine million individual hits, was hidden between floorboards.

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Assistant Commissioner Neil Gaughan said the drugs were discovered at a property in Nunawading in Melbourne's east after the arrest of two Victorian men in February.

"We located 70 boxes of floorboards similar to what you see in front of you here today," he said.

"In each of those floorboards was concealed between the floorboards 2kg of methamphetamine."

A 53-year-old Blackburn man and a 36-year-old Doncaster man have been charged with trafficking in a commercial quantity of illegal narcotics.

Victoria Police Assistant Commissioner Stephen Fontana said the record haul of ice was discovered following an investigation into a drug syndicate, which resulted in the seizure of 40kg of methamphetamine, 175,000 cigarettes and also $140,000 in cash and other contraband.

He said the investigation was ongoing and police were searching for two men who may have links to the syndicate and are believed to frequent the Box Hill area in Melbourne.

Fontana said the record ice haul highlighted Australia's drug problem.

"If you look at this particular seizure, 900kg of methamphetamine and if we look at the joint agency outcomes in Victoria alone for this year, this takes it up to 1.7 tonne of methamphetamine alone," he said.

"That's not including seizures of cocaine, heroin, methamphetamine, MDMA and other drugs we have been seizing in large quantities as a result of our joint operations.

"That's 17 million hits of misery. We know the harm it causes. This comes back to that demand."

Police say the ice was shipped to the Port of Melbourne and later found in a warehouse thanks to intelligence tip offs.

It is believed to have originated in Asia but police won't reveal exactly where.

"At this stage we are not disclosing exactly where it's come from because the investigation is ongoing. It needs to follow its natural course," Gaughan said.

"But we are confident and we are very confident we know who is responsible for the importation."

Prime Minister Malcolm Turnbull described ice as a "scourge" that destroys lives.

"It destroys families and communities," he told reporters in Tasmania.
"We will be ruthless in our efforts to stop the smuggling and the trafficking of this drug."

- AAP