A police operation is currently underway at Prestons public school in Sydney's south west.

According to the Daily Telegraph, two home invasions, two car jackings and a high-speed crash on the M5 has led to the full scale operation.

Two men were arrested after they were found hiding underneath building at Prestons public school.

Two other men remain on the run, last seen driving a yellow 2010 model Holden Commodore with NSW registration plates DAN-359.

Police have urged anyone who sees this vehicle to contact Triple-Zero immediately and do not approach the vehicle.

MORE TO COME.