The car was stopped in Duncrue Street in Belfast on Wednesday evening at 20.15 GMT.
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."

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The 49-year-old man sustained a head injury following the incident at about 09:00 on the Loan Footpath, at its junction with Fergus Avenue.
He was taken to the Western General where his condition is now considered to be serious.
Police Scotland are trying to trace the cyclist, who did not swap details with the jogger at the time.
Sgt Neil Inglis said: "We're eager to trace the cyclist, described as a man in his early 20s, and any witnesses, as soon as possible in the hope that they can help us establish the full circumstances surrounding this incident."
Police are also appealing for witnesses to a collision between a motorbike and car in East Calder.
A Kawasaki motorbike and a Kia Ceed collided at about 17:15 on Friday on the A71 junction with the B7031 Camps.
The A71 was closed for about an hour while the road was cleared.
A 41-year-old man was taken to the Edinburgh Royal Infirmary with serious injuries, which are not thought to be life-threatening.

He won the Lightweight and 350cc Junior Classic races, either side of Swallows' 16th win in the 850cc Classic.
The event, featuring bikes made before 1972, is a TT curtain-raiser and takes place at Billown Circuit.
Meanwhile, Vince Biggs and Vicky Cooke won both of the Billown event's sidecar races.
Jamie Coward, Iain Robertson and Steve Ferguson also won races at the Pre-TT Classic which has been staged at Billown each year since 1988.
Police say the arrests of two men following the seizure of drugs from a car in Belfast have dealt a blow to organised crime.
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Each day we feature a photograph sent in from across England - the gallery will grow during the week.
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A jogger has been seriously injured in a collision with a bicycle in Livingston.
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English rider Mike Hose claimed two wins at the Pre-TT Classic in the Isle of Man on Monday to move level with Bill Swallow's tally of 16 victories.