Nearly 1.6 tonnes of ice with an estimated street value of $1.197 billion was found alongside 37kg - or $18.5 million worth - of heroin, when Australian Border Force officials pulled apart the cargo sent from Bangkok to Melbourne.

No one has been arrested but authorities say the bust represents a significant setback for the drug trade in Melbourne and beyond.

"The effect of these drugs on the community and families would have been profound. It may be your loved one, a friend or neighbour who has been spared the terrifying impact of this mammoth shipment," Australia Federal Police Acting Commander Peter Bodel said on Friday.

The ice haul was equivalent to nearly 16 million street deals and represents Australia's largest onshore seizure of the drug.

Together with the heroin haul, it also equals more than 13 per cent of all drugs seized by Border Force officials in the financial year to date.

"Without the sophisticated targeting and detection capabilities of the ABF, these drugs would have made it to the streets," its commander for regional Victoria, Craig Palmer, said.

"This is the largest meth bust we've ever seen in this country and demonstrates not only the brazen nature of those involved in this criminal activity, but the resolve of the ABF in Victoria and around the country to stop these imports."

Authorities have not said when the drugs were discovered but are pleading with anyone who had information about the shipment to contact Crime Stoppers on 1800 333 000.

"Help us find the people who are willing to put their profit before the pain and suffering of others," Mr Bodel said.

Methamphetamine is broadly known for its violent and costly impact on Australian society.

"Ice is generally well publicised as the scourge of the nation," Sydney's St Vincent's Hospital Alcohol and Drug Service specialist Dr Craig Rodgers told AAP last year.

Former prime minister Malcolm Turnbull said ice ruins lives.

"It destroys families and communities," he said when in the top job.

"We will be ruthless in our efforts to stop the smuggling and the trafficking of this drug."

Australian Associated Press