The joint forces unit said the drugs were found in a 2010 Dodge Ram pickup that was pulled over on Tuesday on the Foxtrap Access Road.
Police found 46 kilograms of marijuana in sealed plastic bags, as well as three kilograms of hash. The drugs were inside a wooden crate in the back of the truck.
The vehicle was also seized.
The driver, a man from Conception Bay South, was arrested and charged with trafficking offences under the Controlled Drugs and Substances Act.
He was released on a surety with conditions, pending his next court appearance on March 27.