Police were conducting speed checks on Syd Enfield Drive at Bondi Junction on Tuesday night when the man allegedly drove past them in a grey Lamborghini LP610-4 Huracan, going 170km/h.
Police will allege that when officers tried to stop the vehicle it accelerated and changed lanes, forcing another car to take evasive action, before it eventually came to a stop on Oxford Street.
NCA NewsWire understands the man was not the registered owner of the Lamborghini, which is worth over $400,000.
The driver was issued a Court Attendance Notice for a motor vehicle exceeding the speed limit by more than 45km/h and driving in a dangerous manner.
His licence was also suspended.
The Sylvania man will appear at Waverley Local Court on November 18.