A CANADIAN man will face a Sydney court after customs seized a package containing just under seven kilograms of cocaine worth more than $2 million.

The package, sent as an air cargo consignment from Canada, was intercepted on December 30 following a joint agency investigation involving NSW and federal police and the NSW Crime Commission.

Customs officers found 6.95kg of cocaine, with an estimated potential street value of $2.4 million, hidden in the package.

Following investigations, a 55-year-old Canadian man was arrested on Sunday and charged with attempting to possess a commercial quantity of a border controlled substance.

The offence carries a maximum sentence of life imprisonment.

He was refused bail to face Central Local Court on Monday.

NSW Police Organised Crime Targeting Squad Commander, Detective Acting Superintendent Jon Beard, said a strong partnership between the agencies had again prevented a significant shipment of drugs making it onto the streets of NSW.

"The NSW Police Force will continue to work in close collaboration with its partners to detect criminals involved in the importation and supply of illicit drugs in our community," he said.