UPDATE: Bondi girl missing for two nights arrives homes after speaking with police

The 11-year-old Sydney girl who spent two nights with a stranger has spoken to police about why she ran away from home.

Michelle Levy arrived home tonight and told 9NEWS she was happy to be home and had missed her family.

She disappeared on Saturday night after storming out of the family's Bondi home following an argument with her parents.

She was found "safe and well" at a Randwick home this morning, reportedly spending the two nights with an older man who had befriended her on Saturday night.

Michelle's mother, Anne, said she was "crying with joy" when she heard the good news.

"I was thinking the worst things that could possibly happen," she said.

She said the man had contacted Anglicare who then got in touch with her.

"Thank you (to the stranger) for coming forward ... letting us be able to come and collect her," she said.

"Thank you so much for looking after her."

Her father Adam Levy told reporters he was relieved Michelle had been found and vowed not to punish her.

"I think being out of home for more than a day and a half is more than punishment enough," he said.

It is believed the man contacted an Anglicare staff member this morning, who then contacted her mother.

Mr Levy said he had not met the man.

"He'd already left with the police to be interviewed by the time we arrived," he said.

"She (Michelle) seemed very chirpy .

"Apparently they went shopping yesterday – she had a bag of Pods, the little chocolate cup things… that she was sharing around."

Michelle was still wearing the same dress and had had "plenty to eat". Superintendent Jason Box said officers are now trying to piece together the young girl's movements but believe she met the man in Bondi and was then taken to Randwick.

"I'm glad she's safe and well, and after two days there was some concern for her wellbeing due to her young age," he told reporters at Waverley police station.

About a thousand people took to the streets of Sydney overnight in a bid to track down Michelle.

Michelle's mother expressed her gratitude for the widespread support.

"Organisations have been organising searches last night. Jewish House organised one which had over a thousand volunteers which has just been an amazing response," she said.

"They were only expecting 30 people to turn up."