In an operation led by garda organised crime and intelligence units, assisted by Customs officers, the haul was intercepted on the M3 motorway.
Two vehicles were brought to a hard stop in an armed operation and when searched, cocaine with an estimated street value of €1.2 million was uncovered.
A Garda statement said: “In the course of an intelligence led operation targeting organised criminality, personnel attached to the Garda National Drugs and Organised Crime Bureau supported by the Garda National Crime and Security Intelligence Service stopped and searched two vehicles on the M3 Motorway near Ashbourne County Meath on Saturday.
“The searches that were undertaken with the assistance of the Revenue Customs Service resulted in the discovery and seizure of a quantity of cocaine (subject to analysis) with an estimated street value of €1,200,000.”
It said two men, aged 35 and 62 years, were arrested and detained under Section 2 of the Criminal Justice (Drug Trafficking) Act, 1996, at Ashbourne Garda Station.
Detective Chief Superintendent Angela Willis, head of the DOCB, said: "An Garda Síochána is committed to continuing to disrupt the activities of organised criminals supplying drugs to our communities.
This seizure of a substantial quantity of cocaine today is another example of our relentless efforts to disrupt this supply, enabling us to keep people safe.
On 1 July, local gardaí, assisted by national units seized an estimated €3.9m worth of cannabis herb and products in Laois.
Last month, Revenue made one of the biggest hauls of cocaine and cannabis herb in recent years after they uncovered 62kgs of cocaine and 93kgs of cannabis herb inside a trailer at Dublin Port.
Also in June, in a joint operation involving the DOCB and Dutch police, some 16ks of cocaine was seized in Amsterdam and an Irishman arrested.
In April, the DOCB seized 35kgs of cocaine in north Co Dublin.
In the same month, drug units in Laois seized 62kgs of cannabis herb.