Intelligence led policing is now a term in common usage within Australian law enforcement. This paper considers the origins, definition and aims of intelligence led policing, as well as a model of how it should work, through interpretation of the criminal environment, influence on decision makers, and subsequent impact on the criminal environment. The paper also discusses the integration of intelligence led policing into the policing paradigm and the threats and opportunities presented by this type of operational practice, concluding that the drive towards intelligence led policing has to be tempered by realistic expectations.