Police have dramatically swooped on two men who they suspect have stolen thousands of cigarettes worth a combined total of more than $7 million.

Detectives discovered the incredible haul at a warehouse during raids across southwest Sydney yesterday and have charged the two men they believe are involved in stockpiling them.

The dramatic raids were triggered by the suspected theft of cigarettes from a warehouse in Alexandria in April this year.

Following an extensive investigation, Redfern detectives yesterday raided businesses on Ballantrae Drive at St Andrews, Queen Street at Campbelltown, and Merrylands Road at Merrylands.

Search warrants were also executed at homes in Toscana Street at Prestons, and Begovich Crescent at Abbotsbury.

Police seized about 1550 cartons of cigarettes, about $250,000 cash, and two Toyota Hilux vehicles.

A 46-year-old man was arrested in Prestons, in the city's southwest, and taken to Liverpool Police Station, where he was charged with six counts of receiving goods suspected of being stolen, and knowingly deal with proceeds of crime.

A 44-year-old man was arrested in Merrylands and taken to Campbelltown Police Station, where he was charged with two counts of receiving goods suspected of being stolen, and knowingly deal with proceeds of crime.

Both men will appear in court in October.