Mr Turnbull, speaking in Perth on Monday, described the alleged plot as a “very serious terrorist plot” and said “great police work and great intelligence” was involved to prevent it.
“We are unrelenting in our efforts to keep Australians safe and as you know, and you heard over the last 24 hours or so, we have succeeded in disrupting a major terrorist plot to bring down an airplane,” he said.
“Great intelligence, great police work and coordination has enabled us to see that plot and we'll continue in our efforts as the police complete the investigation."
He described the cooperation with international intelligence agencies and other governments “has to be seamless."
“I'm always going to seek to make things more effective, more efficient, more connected,” he said.
“They need to be more joined up and that's why I'm setting up the department of home affairs to bring together in the one portfolio and the one department, those vital domestic security agencies, AFP, ASIO and of course, the Border Force.”
Meanwhile, the Australian Federal Police boss says travellers should be "very confident" in the security at Australian airports.
AFP Commissioner Andrew Colvin says state and federal officers have increased their presence at airports around the country since the arrest of four men in Sydney on the weekend suspected of plotting to blow up a plane.
"We have very good security at airports now," he said on Monday.
"What we are doing, what you're seeing at the moment is making sure there is extra vigilance, to make sure we aren't cutting any corners in our security.
"This is not stagnant though and we are always reviewing what the best arrangements are."

Malcolm Turnbull reacts at a press conference on Sunday following the alleged raids. Source: AAP
"It's a small inconvenience for what is an incredible benefit," he said.
Mr Colvin remained tight-lipped on details of the investigation into the four men who are being held under special terrorism powers after being arrested during counter-terror raids on Saturday night.
He would not confirm reports the alleged plot may have involved a crude bomb disguised as a kitchen meat grinder, or a plan to release poisonous gas inside the plane.
He also refused to confirm whether the attack was targeting a domestic or international flight.
"The plot that we are investigating we believe was an attempt to put a device onto an aircraft, but beyond that the speculation is just that - speculation," Mr Colvin said.
"Until we finish our investigation, until we know which of our many working theories we have, and until we can put that information before the courts it's not helpful to keep speculating."
- with AFP