Local Policing Team officers arrested a 52 year old man under the Terrorism Act.
He is currently in Musgrave Serious Crime Suite for questioning.
Following the arrest a premises search was conducted in the Lagmore area of West Belfast.
A suspected firearm and documentation was seized.
Detective Inspector Andrew Hamlin from PSNI’s Terrorism Investigation Unit said: “We will continue to frustrate and disrupt the activities of those involved in terrorism so that communities can prosper and people can live without fear.
“I would appeal for anyone with information relating to dissident republican activity to contact police on the non-emergency number 101.
“Alternatively information can also be provided to the independent charity Crimestoppers on 0800 555 111 which is 100% anonymous and gives people the power to speak up and stop crime.”