Hezbollah's al-Manar television reported that four buildings were destroyed and there were many casualties in the multiple strikes, which marked a major escalation of Israel's conflict with Hezbollah.
In a televised statement, Israeli military spokesman Daniel Hagari said the central command centre was embedded deep within civilian areas.
Footage broadcast by al-Manar TV showed at least one smouldering crater at the site of the attack.
Security sources in Lebanon said the attack targeted an area where top Hezbollah officials are usually based.Â
It was the heaviest attack in Beirut in almost a year of conflict between Hezbollah and Israel.
The strikes hit Beirut shortly after Israeli Prime Minister Benjamin Netanyahu vowed to continue Israel's attacks on Iranian-backed fighters in Lebanon in a closely watched United Nations speech, as hopes faded for a ceasefire that could head off an all-out regional war.
A year of conflict between Israel and Hezbollah has escalated sharply this week, raising fears of an even more destructive conflict between the heavily armed adversaries.
An Israeli strike shook Beirut and sent thick clouds of smoke over the city. (AP PHOTO)
Lebanon's caretaker Prime Minister Najib Mikati said Israel's attacks on Beirut's southern suburbs on Friday show it "does not care" about efforts to bring about a ceasefire.
Mikati's press office sent a statement while he was in New York for the United Nations General Assembly, where the US and other countries including Australia had made a call for a 21-day ceasefire between Israel and Hezbollah.
with AP