Two people have been released without charge after they were arrested during an operation in North Melbourne.

Victoria Police said detectives from the Joint Counter Terrorism Team (JCTT) had conducted a search at a residential property on Bedford Street as part of a "routine operation" on Friday afternoon.

The pair assisted with enquiries and were later released, police said.

In a statement on Saturday night police said the operation was not linked to a specific incident and was part of the JCTT's ongoing intelligence gathering.

"It is not linked to any imminent threat and the community should be assured that there is no ongoing risk as a result of this operation," the statement said.