The drugs were hidden in metal boxes labelled as loudspeakers.
It is the single largest seizure of methamphetamine heading Down Under and the largest domestic bust of the drug on USA soil.
The seizure has led to six arrests in both Victoria and New South Wales.
Australian authorities said the seizure was the largest haul of methamphetamine ever recovered in the USA, the equivalent of 17 million individual hits.
U.S. authorities said the illicit cargo - with a street value of AUS$1.29 billion, or US$900 million - was hidden in two shipping containers carrying audio equipment bound for Australia. Australian Federal Police (AFP) say they were found with "hundreds of thousands of dollars of proceeds of crime" during a raid in Melbourne. Luckily we worked with our U.S. buddies and were able to stop the shipment before it reached our shores.
Assistant Commissioner Hill is urging ice users to get help.
Police executed 10 search warrants on Thursday and Friday across six Melbourne suburbs, resulting in the arrests of a man, 31, and woman, 29, of Vietnamese origin, and American man, 52, and woman, 46. Two other Australians face the same charge.
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"This is a serious warning, we now believe the Mexican cartels are actively targeting Australia".
"They have been sending smaller amounts over the years, this is now flagging their intent".
Authorities are warning that global drug syndicates are stepping up efforts to get their drugs into Australia.
"The cartel is one of the most powerful and violent drug trafficking syndicates in the world", he said, without naming the cartel involved.
Dr John Coyne, head of the Border Security Program at the Strategic Police Institute, told Neil Mitchell "it's further evidence (international drug cartels) are expanding into our space for distribution".
"By stopping this, we have ensured criminals will not profit from the vast pain these drugs would have caused our community", AFP Assistant Commissioner Bruce Hill told reporters. He said sewage drug monitoring data showed Victoria state-which has a population of 6.3 million-was estimated to consume just over 2 tons of ice each year.
The previous record of seized methylamphetamine bound for Australia was 1.3 tonnes found in Western Australia in December 2017.