Over $4 million in drugs seized in biggest bust in state's history

More than $4 million of illegal drugs have been seized in Tasmania, marking the state's biggest drug bust in history.

Police found three kilograms of methylamphetamine and four kilograms of cocaine at Rocky Cape, in northwest Tasmania, after intercepting a car and boat travelling from Victoria to Tasmania on December 7.

Two men from New South Wales were arrested in the operation, including a 34-year-old man from Elderslide, and a 40-year-old man from Swansea.

READ MORE: Cyclone Cyclone

A .22 pistol and ammunition were also allegedly found with the men.

Investigators believe the drugs have a combined street value of $4.6 million.

The car and boat the men were travelling in was seized, as well as a trailer worth more than $25,000.

"This is the biggest seizure of methylamphetamine and cocaine in Tasmania's history and will go a long way to reducing harm on our streets," Southern District Commander Jason Elmer said.

"This equates to about 30,000 street deals of methylamphetamine and 4000 street deals of cocaine.

"We know illicit drugs cause harm in our community, and we see the very real and wide-reaching impact these drugs have, both on individuals and on our community as a whole.

"We are committed to preventing the importation and distribution of these substances"

READ MORE: New Woolworths drive-through opens in affluent suburb

Both men have been charged with trafficking a controlled substance and firearm offences.

They have been remanded in custody and will appear in Hobart Magistrates Court today.

The bust comes as two kilograms of cocaine and four kilograms of methylamphetamine were seized from a vehicle in Devonport last month.