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Chinese-born Canadian Tse Chi Lop, 59, is suspected of being the leader of an Asian mega-cartel known as Sam Gor, a major global producer and supplier of methamphetamine.
He faces life imprisonment if convicted.
Australian Federal Police assistant commissioner Krissy Barrett said the arrest came after a "very complex investigation."
Barrett added: "We allege this male is the head of a large transnational organized crime syndicate. By their very nature, these very senior figures within the syndicates obviously deliberately stay hands-off in terms of the business dealings."Australian police said the charges relate to a specific 2012-2013 operation transferring drugs from Melbourne to Sydney.
Police had nabbed 27 people and netted 20 kilos of methamphetamine with a street value of US$3 million (HK$23.4 million).A second man has also been arrested after being extradited from Thailand.
The United Nations' narcotics agency estimated the Sam Gor syndicate's meth revenue in 2018 at US$8 billion a year, but said it could be as high as US$17.7 billion.AGENCE FRANCE-PRESSE