The arrests follow a planned search in the Shackleton Crescent area of Ballykelly earlier today.
Suspected cannabis with an estimated potential value of £75,000 was recovered by police, along with a number of other items.
Two men, aged 35 and 32, were arrested on suspicion of importation of a controlled drug and being concerned in the supply of a controlled drug.
A third man, aged 24, was arrested on suspicion of importation of a controlled drug.
A PSNI spokesperson said all three were “currently assisting police with their enquiries.”