The Australian Federal Police have conducted a number of terrorist raids across Sydney over a suspected bomb plot to bring down a plane.

The raids, conducted by the Sydney Joint Counter Terrorism team, took place in Surry Hills, Lakemba, Wiley Park and Punchbowl on Saturday afternoon.

The operations are part of an ongoing investigation.

Fairfax Media understands the raids relate to a terrorist cell and a bomb plot to bring down an aircraft. The raids were not planned but instead were a rapid response to information about the plot received by police.