The 903kg (1990lb) haul of the drug, also called ice, is estimated to have a street value of A$898m (£546m; $680m), Justice Minister Michael Keenan said.
The drugs were concealed between floorboards in a shipment sent to Melbourne, according to the Australian Federal Police (AFP).
Two men have been charged with drug trafficking offences.
Prime Minister Malcolm Turnbull praised the police operation, describing drug traffickers as "merchants of death".
