Authorities said the shipment, which weighed 450kg, included 1,290 packages of heroin with unique red branding.
The seizure was made at the Port of Melbourne - Australia's largest port - on September 29.
Offices said they arrested a Malaysian man after the huge haul was discovered in a container of ceramic tiles.
He was later charged with the import and attempted possession of a commercial quantity of a border-controlled drug. He could face a sentence of up to life in prison.
Testing of the substance in the packages showed it was heroin.
