Biker gangs are notorious in Australia for their drug-fueled violence, with more than 1,000 shootings recorded since the 1980s.
This recent cocaine seizure was part of a wider investigation into the Comanchero gang, codenamed Operation Tyrrendor, which began last month.
Authorities said they had received intelligence suggesting a crime syndicate linked to the gang was planning to import illegal drugs into Australia.
This follows reports last week that The Colombian Navy intercepted a semi-submersible boat transporting cocaine to Australia.
Investigators told reporters in Brisbane that the record shipment of cocaine came from an unspecified South American country.
The AFP worked with the Queensland Police Service (QPS) and the Australian Border Force (ABF) to track down a fishing boat recently purchased by a 35-year-old man.
Police said it was being used to transport cocaine from a larger mother ship to the Queensland coast on Saturday night when it developed a mechanical problem.
Stranded about 18km off the north-eastern tip of K’gara, it was intercepted by the AFP and QPS, who found 51 bales tied together in a rope net.
Each bale contained 40 kg of cocaine, with a total weight of 2.34 tons.
Two men were arrested on the boat and two others were arrested on the coast while waiting for the cargo.
Three more were arrested at a nearby fast food restaurant, five more at a bus stop.
The final arrest was made in Brisbane after the AFP and QPS executed a search warrant.
All 11 men and two juveniles were charged with conspiracy to import a commercial quantity of cocaine, which carries a maximum sentence of life in prison.
