A loaded semi-automatic pistol was found with the drugs following the search of a home in Dublin 10 yesterday by the Garda National Drugs and Organised Crime Bureau with support from the Special Crime Task Force.
Two men, both in their 30s, were arrested in connection with the seizure.
They are currently held at Lucan Garda Station under Section 30 of the Offences Against the State Act, 1939.
Assistant Commissioner Justin Kelly, Serious and Organised Crime, said: “The mission of An Garda Síochána is keeping people safe. Therefore, violent drug gangs who intimate our communities shall continue to be the primary target of our national investigations.
“An Garda Síochána is determined to disrupt and dismantle these groups and I commend all the officers involved in this operation.”
Investigations are ongoing, Gardaí said.