NSW Police said they raided the property in Harold's Cross, 30-kilometres south west of Braidwood, on Saturday morning.

During the search, investigators allegedly found 45 litres of methylamphetamine oil and a large-scale clandestine laboratory in several sheds.

More than 500 items consistent with drug manufacturing were found, including eight stainless steel condensers, a 1000-litre stainless steel reaction vessel, glassware, gas burners and several gas burners.

Detectives also found a rifle, shotgun $4500 cash and mobile phones in a shed with living quarters.

Police said a 37-year-old man from Seaford Rise, South Australia, and a 38-year-old man from Bill Hill, NSW, were arrested at the scene.

The two have been charged with manufacturing prohibited drugs. They were refused bail on Sunday and were expected to reappear at the Queanbeyan Local Court on Monday.

The raid was part of the Strike Force Bluffview. The strike force was established in August 2019 to investigate the manufacture and supply of methylamphetamine (ice).

Detectives from the NSW State Crime Command's Drug and Firearms Squad created the strike force, with assistance from the Australian Criminal Intelligence Commission and South Australia Police.

NSW Police drug and firearms squad commander detective superintendent John Watson said the laboratories posed an unacceptable risk of harm.

"The location of this property is not far from bushfires still impacting the southern region and we know illicit substances, such as ice, are manufactured in volatile environments which presents serious risks of explosions and contamination," he said.

"The activities we have observed at this site show a blatant disregards for human life and the potential to cause catastrophic damage."