The men, 57 and 48, are due to face Parramatta Local Court on Saturday for various offences, including supplying prohibited drugs.
NSW's anti-bikie police unit, Strike Force Raptor, led Friday's raids after they received tip-offs in June about a fraud syndicate linked to drug manufacturing.
On Friday morning police searched homes in Earlwood, Haberfield and Drummoyne as well as a storage facility in Gladesville.
The 57-year-old was arrested at the Earlwood home, where police found a drug lab concealed in a secret room.
They also discovered six litres of liquid methylamphetamine, cocaine, ammunition, mobile phones and electronic equipment.
In Drummoyne, police arrested the 48-year-old and seized from his property methylamphetamine, cocaine, MDMA and more than $35,000 cash.
Later on Friday police searched a Homebush property where they found a second drug lab in a shed out back.
Investigations are ongoing.
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