Around £250,000 (€290,000) in cash was recovered along with cocaine valued at £100,000 following the search of a car in Co Down.
Shortly after 8.35am on Saturday, PSNI officers stopped and searched a black Seat Leon that was travelling along the A1 southbound between Hillsborough and Dromore.
During the operation, a 24-year-old man and a 21-year-old woman were arrested on suspicion of possessing criminal property and possession of a Class A controlled drug with intent to supply.
Both remained in police custody on Saturday evening.
Following the recovery of the approximately £250,000 in cash and suspected cocaine with an estimated street value of £100,000, police carried out follow-up searches in the west Belfast area, leading to the seizure of further cash and quantities of cocaine.
In a statement, the PSNI said: “Drugs harm our communities and cause misery to those addicted to them and their wider family circle. We will work with the public and our partner agencies to seize illegal drugs and prosecute those responsible.”
It said the seizures would undoubtedly “hit the organised criminals involved where it hurts”.
“It is clear that these organised crime groups care about one thing and one thing only – money. They are totally unconcerned with the damage they cause and the lives they destroy,” the statement added.
Officers urged anyone with information about criminality linked to drugs to contact them or the Crimestoppers charity.