Locals await fury as cyclone upgraded to category five

Cyclone Narelle is expected to make landfall on Friday morning near Coen, north of Cairns.

After crossing Cape York, the storm was expected to lash the Northern Territory's Top End before moving into Western Australia's Kimberley coast.

About 500 people will be evacuated from NT's remote Gulf of Carpentaria community of Numbulwar in the coming days.

The destructive system has picked up speed as it hurtles toward the far north and is currently travelling at 26km/h.

The cyclone could be the biggest "in living memory", according to Queensland Premier David Crisafulli.

Narelle will be the first category five storm to hit the state since Cyclone Marcia devastated central Queensland in 2015.

"This has the potential to be a very dangerous weather event," Prime Minister Anthony Albanese said on Thursday.

"The Commonwealth stands ready to provide whatever assistance is required for both Queensland and for the Northern Territory."