A man faces multiple drug-related charges after a lengthy police investigation into illicit drug dealing over the so-called "dark web".

The 43-year-old was arrested after officers from the Australian Federal Police and NSW Police swooped on two properties in Sydney's inner west on Thursday morning.

Officers from Strike Force Collette searched the properties at Wolli Creek and Tempe at 8am where they seized cocaine, MDMA, silocybin (magic mushrooms), more than $12,000 cash, drug equipment and packaging.

During the search warrant, the officers also found laptops with sophisticated hardware and software encryption.