Police have made the largest cocaine seizure in Australian history following an investigation into a transnational organised crime syndicate accused of conspiring to import more than two tonnes of the drug into Australia.

Australian authorities have seized 2.3 tonnes of cocaine off Queensland’s coast, making it the largest cocaine bust in Australia's history.

Australian authorities seized over two tons of cocaine over the weekend worth nearly $500 million after the fishing boat that smugglers used to sail the drugs into Australia broke down — the largest ever seizure of cocaine in Australia.