Perth City Detectives have charged Jack Bobridge as part of the ongoing operation codenamed Operation Inception.

Mr Bobridge retired from professional cycling last year.

The 28-year-old took part in three Olympic games and won silver twice in the team pursuit event at the 2012 and 2016 games.

Officers executed search warrants at his Yokine home and his North Perth gym on Wednesday as part of Operation Inception.

The investigation led detectives to charge Mr Bobridge with two counts of sell and supply a trafficable quantity of MDMA and three counts of sell and supply MDMA.

He faced court on Thursday and was granted bail to appear in court again on September 21.

Perth City Detectives officer-in-charge Detective Senior Sergeant Darryl Cox said Operation Inception began at the start of this year and had involved dozens of officers who were working hard to make popular entertainment precincts safer.

"Significant resources have been put into the Perth entertainment precincts to ensure that we identify those people selling drugs," Det-Sen. Sgt Cox said.

"We will continue to target anyone that enters the entertainment precinct with drugs.

"We want these venues to be safe for all patrons and we encourage all community members, including those who work in the entertainment sector, to provide us with information about drug dealing.

"We do not want our young adults subject to brazen drug dealing in the entertainment precincts."

Operation Inception culminated in 40 separate search warrants in June.

So far, ecstasy, cocaine, methamphetamine and cannabis worth about $1 million has been seized, while 61 people have been charged.

Police will continue to target illicit drug dealing in entertainment precincts over the coming months, Det-Sen. Sgt Cox warned.

Attempts by WAtoday to contact Mr Bobridge and his lawyer were unsuccessful.