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A "major player" in Australia's organised crime network was shot in a busy Sydney shopping area, police say.

The 48-year-old, who was targeted in a car park at 08.30 local time on Tuesday, died at the scene.

"The shooting bears the hallmarks of an organised crime murder. It's being treated as that," Detective Superintendent Danny Doherty said.

He added that the man had links to one of the nation's largest outlawed motorcycle gangs.

In Australia, motorcycle gang members are known as "bikies".

The man has not been identified by authorities, but Australian media reported the victim as the convicted drug kingpin Alen Moradian - a figure in the illegal cocaine trade.

"He's a major player in the organised crime network and so he has high-level links to the Comancheros [bikie gang]. He obviously had a big target on his back," Mr Doherty told a news conference.

"We're talking about a safe community in Bondi Junction with shots fired in an underground car park, emergency services responded very quickly - that's why they attempted CPR on the victim", he added.

Local police and homicide squad detectives are investigating.

Three crime scenes have been created, and two cars including a Porsche have been linked to the shooting.

Bondi Junction is located roughly 2km (1.2 miles) from the popular tourist suburb of Bondi Beach.