Detectives from Reactive and Organised Crime Branch said they stopped two vehicles on the Templepatrick Road, Doagh on Friday afternoon (May 19).
They quantity of suspected cocaine with an estimated street value of £300,000.
They also uncovered prescription drugs with an estimated street value of £500, and a sum of cash.
Police said two males aged 27 and 36 have been arrested on suspicion of a number of drugs offences and are currently in police custody.
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Detective Inspector Keith Gawley said in a statement that the operation “is yet another example of our determination to reduce the availability of this drug”.