They were arrested as part of an investigation into drugs distribution network in the south Tipperary region.
Gardaí seized drugs and weapons from both men during the operation.
A search of a building in Clonmel during the investigation uncovered cocaine and cannabis worth an estimated €18,500 and €980 in cash.
Mobile phones, weighing scales and a stun gun were also recovered.
Other offensive weapons were also seized.
Both men are currently in custody and can be held for seven days.
Both men are aged in their 30s and are being held at Clonmel Garda Station under Section 2 of the Criminal Justice (Drug Trafficking) Act, 1996.
Investigations are ongoing.