To the naked eye it was just a pallet of 1.5 litre bottles of mineral water.

But a joint agency intelligence operation has allegedly revealed the bottles contained almost 160 litres of liquid methylamphetamine worth $80 million.

Police have seized almost 160 litres of liquid meth suspended inside water bottles shipped from Iran. Credit:Australian Border Force

On Thursday two men were arrested over the alleged shipment, which originated from Iran and arrived in Australia earlier this month.

Border Force officers were waiting for its arrival after receiving intelligence from NSW Police investigators that an importation of illicit drugs was headed for Australian shores.