Graham Potter, Australia's most wanted criminal arrested after 12 years on the run

Graham Gene Potter, 64, one of Australia's most wanted alleged fugitives has been arrested. Photo / QLD Police

Graham Potter has finally been arrested after spending 12 years on the run as Australia's most wanted man.

Potter, 64, disappeared in 2010 when he was due to appear in Melbourne's Magistrate Court, charged with plotting murders.

He is alleged to have been planning to kill two people and was also wanted over his purported involvement in a 4.4-tonne, $440m ecstasy haul.

Potter was arrested at a house in the Far North Queensland town of Ravenshoe, roughly 40km southwest of Cairns.

In an image released by police, the 64-year-old was seen on a bed in a squalid shack before he is handcuffed and taken into custody.

"This is the police. Do not move," one officer was heard shouting at Potter.

"Put your hands where I can see them."

Potter was arrested on Monday in Far North Queensland after police received a tip off about his whereabouts. Photo / Supplied

Potter allegedly evaded capture for more than a decade by changing his appearance and identity, including wearing fat suits and wigs, and befriending elderly women for accommodation.

He had been on the run from police for more than a decade. Photo / Supplied

"Over that period of time, a significant amount of law enforcement agencies right across Australia had been involved in the hunt for [Potter]," Victoria Police Acting Assistant Commissioner Mick Frewen said.

Potter is alleged to have been planning to kill two people and was also wanted over his purported involvement in a 4.4 tonne, $472m ecstasy haul. Photo / Supplied

Queensland police received reports of possible sightings of Potter in 2011 in the Queensland town of Tully - just 50km from where he was arrested on Monday.

He managed to escape from the police despite being pulled over in a routine traffic stop.

Graham Gene Potter, 64, one of Australia's most wanted alleged fugitives has been arrested. Photo / QLD Police

At the time, police uncovered a campsite believed to have been used by Potter, allegedly finding knives and letters detailing how he planned to stay hidden and intentions to murder anyone who identified him.

Victorian Police will travel to Queensland to seek Potter's extradition.

He is expected to appear before Mareeba Magistrates Court on Tuesday.