Benjamin Macann, 32, was arrested at a hotel in the southern city of Plovdiv yesterday (Monday).
He had a fake passport and a genuine passport in someone else's name.
He was apprehended following an operation by the National Crime Agency, Bulgarian police, and the Spanish Guardia Civil.
In January of this year, the NCA and Crimestoppers launched a new Most Wanted campaign featuring 12 fugitives believed to be hiding in Spain, and a public appeal was made to help locate Macann.
Norfolk Police are looking for him for allegedly conspiring to supply class A drugs.
Macann, formerly of Halfpenny Lane, Beetley, Dereham, Norfolk, is accused of supplying multiple kilogrammes of cocaine in 2020 while using encrypted handsets with accomplices.
Macann is the fifth person arrested from the Most Wanted list since the campaign began in January.
He is being held in custody pending the start of extradition proceedings.
"Benjamin Macann's arrest was made possible thanks to some great work by our international liaison officers, the Guardia Civil fugitives team, Bulgarian Police, and our counterparts in Bulgaria's international cooperation directorate," said Steve Reynolds, NCA regional manager in Spain.
"Macann is the fifth person apprehended from the Most Wanted list." We won't stop until the last of them are apprehended."
"We continue to work with partners and law enforcement agencies around the world to locate our most wanted," said Detective Sergeant Eddie Hammond of the Norfolk and Suffolk Serious Organised Crime Unit.
"We would like to thank them all for their continued determination and meticulous hard work as they continue to disrupt criminal networks all over the world, proving that there is no safe place to hide."
"Our charity is here to support people to speak up anonymously when they know about crime, and that includes passing on the whereabouts of fugitives who are wanted by law enforcement both here and abroad," said Lord Ashcroft, founder and chair of the charity Crimestoppers.
"It is heartening to learn that another fugitive has been apprehended, demonstrating the success of our joint Most Wanted campaign with the NCA." I would like to encourage anyone else who has information about one of the people on our list to call our charity anonymously or contact us through our website, crimestoppers-uk.org. Your knowledge could mean the difference between life and death."