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The four men, aged between 20 and 25, were arrested simultaneously in police raids just before 6am.
The men were arrested in homes in Bonnyrigg, Macquarie Fields and Gregory Hills in south-west Sydney, and in the country NSW town of Orange.
They have all been taken to local police stations where it is expected they will be charged over the alleged murder.
Elomar was shot on Cabramatta Avenue in Miller on a Saturday night in February 2020.
Despite paramedic efforts to save him, he died at the scene.
Elomar was sitting in the driver’s seat of a car when he was shot.
An 18-year-old was charged over his alleged involvement in the death but has since been acquitted.
Detectives from the State Crime Command’s Homicide Squad have been investigating the alleged murder for two years.
Police will speak on the arrests later this morning.
