Tropical Cyclone Fina has formed off northern Australia, the Bureau of Meteorology declared this morning.

It's the first cyclone of the season, and could potentially make a historic landfall come the weekend.

"Tropical Cyclone Fina has formed north of Darwin within the western Arafura Sea and is moving slowly to the east north-east," The Bureau of Meteorology's cyclone tracker said.

It's forecast to reach category two strength today.

While the cyclone is moving away from the coast at the moment, the Bureau has predicted it will turn south later on Thursday and head toward the Top End of the Northern Territory.

Residents in the west and north of that region should "monitor forecasts for a potential tropical cyclone impact later this week", the BoM said.

As of 3.30am ACST (5am AED

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