Record-breaking 1.464 tonne haul of cocaine bound for Australia seized by French authorities

A massive cocaine haul bound for Australia stashed in the hull of a yacht has been intercepted by the French Navy in the South Pacific.

The record-breaking 1.464 tonnes of cocaine was seized near New Caledonia on July 27 with four crew arrested who are believed to be Lithuanian and Latvian, the Australian Criminal Intelligence Commission said.

ACIC officials worked closely with French authorities to foil the plot, which is believed to have been organised by a South American crime syndicate.

"Congratulations to the Marine Francaise and Gendarmerie Nationale for their efforts in relation to this record seizure of cocaine," ACIC executive director of intelligence Col Blanch said in a statement on Thursday night.

"We are thankful for the action taken by French authorities which has stopped a significant amount of drugs reaching the streets of Australia."

The drugs have an estimated street value of $322 million.

The ACIC believes the four eastern European smugglers on the yacht were under the control of an organised crime syndicate in South America.

The vessel has been towed to Noumea for further investigation and testing.