The drugs were found after police stopped a man driving on the Belfast Road, Tamlaght in the Enniskillen area at around 3pm on Wednesday.
The cannabis, with an estimated street value of £76,000 was discovered inside the car, along with a small quantity of a class A cocaine.
Detective Inspector Tom McClure from the PSNI’s Reactive and Organised Crime Branch said: “We stopped this vehicle as part of a wider investigation into the activities of what we believe is an organised crime gang operating in Northern Ireland.
“A house in Claremount Street in Belfast has also now been searched and a number of items have been seized for examination.”
A police spokesman said the search was part of an ongoing effort to “dismantle the infrastructure of those organised crime gangs who try to ply their evil drugs trade in Northern Ireland”.
Police have appealed to the public to pass on information about the sale or supply of illegal drugs.
Anyone with relevant information can contact police on 101 or call Crimestoppers anonymously on 0800 555 111.