Jaw-dropping moment hooded figure uses a pizza box to light a fire that destroyed a $350,000 McLaren

A luxury supercar worth $350,000 has been destroyed after an arsonist used a pizza box to light a fire under the vehicle while it was parked on the street. 

Security cameras caught the hooded firebug as he hid from passing cars behind a tree next to the McLaren on the suburban Sefton street in Western Sydney about 11pm on Friday night.

The car's owner, builder and father-of-three Hamad Ajaje, bought the vehicle about a year ago and had listed it for sale online three days ago.

'It's very upsetting I mean I can't even look at it anymore,' Mr Ajaje said. 

The footage shows the man clutching an umbrella in one hand and using it to shield the flame as he sparked a lighter and set the cardboard pizza box ablaze.

Once the handheld firebomb was going the footage shows he then crouched down, shoved it under the car's bumper and took off down the street.

Neighbours quickly noticed the blaze and rushed out to try and douse the car with a garden hose to no avail.

Within 15 minutes the fire had grown despite the rainy weather, with the front left side of the car a bright fireball.

Firefighters arrived just as Mr Ajaje and his teenage son returned in his work ute from a night out for dinner.

'It's devastating, to be honest, you know the way we came back and just, you know, saw it lit up on fire and we just burst into tears,' Mr Ajaje said.

'What can you do?

'I don't think there's anyone that's got it out there for us or whatever.

'Maybe they wanted to go for a ride, and I never gave them the chance to.'

The car is a write-off with Mr Ajaje saying he hopes insurance will cover at least part of the damage. 

NSW Police confirmed they are investigating the blaze and detectives are searching for the arsonist. 

Anyone with information is asked to contact Crime Stoppers.