The car was stopped in Duncrue Street in Belfast on Wednesday evening at around 8.15 pm.
Police seized suspected herbal cannabis and cocaine thought to be worth a substantial amount.
The men, aged 28 and 31, have both been arrested for possession and supply-of-drug offences.
Det Insp Tom McClure from the PSNI’s Reactive and Organised Crime Branch said: “I believe that this intervention has struck a blow to the activities of an organised gang involved in serious drug criminality.
“The PSNI is committed to making Northern Ireland a hostile environment for those in our community who are involved in serious drug crimes.
“We will seek to identify them, arrest them and place them before the courts.
“Anyone with any information about drugs or any illegal activity should contact police on the non-emergency number 101 or information can be passed anonymously to the independent charity Crimestoppers on 0800 555 111.”