Police made the discovery when a van was stopped on the Hillsborough Road in Hillsborough on Friday.
The man, 34, is due to appear before Lisburn Magistrates' Court on Monday.
Police said the cocaine was "destined for distribution and sale" on the streets of Northern Ireland.
"We are delighted to have removed it from circulation," said Det Insp Alan Pyper.
"The Police Service of Northern Ireland is continually working to identify those involved in the supply of drugs and put an end to their deadly trade."

Nobbs, 80, from Ripon, North Yorkshire, also wrote for The Two Ronnies, Ken Dodd, Frankie Howerd and Radio 4's The Maltby Collection.
The creator of The Fall and Rise of Reginald Perrin also wrote 20 novels.
Comedian John Cleese said he was a "lovely kind, gentle man with a delicious sense of humour".
He said on Twitter: "Very sad today to hear of the death of David Nobbs. First worked with him on the Frost Report in 1966.
"He wrote many top-class shows and books. His masterwork: the Reggie Perrin shows."
The Fall and Rise of Reginald Perrin, first broadcast in the 1970s, told the story of a man, played by Leonard Rossiter, desperate to escape his dull marriage, disappointing children and daily grind of his job.
The British Humanist Association's chief executive Andrew Copson said: "David Nobbs was a very special talent and we were all honoured to have worked with him over his years as a patron of the BHA."
Ricky Gervais, creator of The Office, also paid tribute to Nobbs, by borrowing a catchphrase from the character CJ, played by John Barron, who was Perrin's tyrannical boss.
He tweeted: "I didn't get where I am today by not knowing what a genius David Nobbs was. RIP."
And Little Britain star Matt Lucas wrote: "Reggie Perrin and A Bit Of A Do were masterpieces. David Nobbs leaves the world a richer place."
Author Irvine Welsh, who wrote the novel Trainspotting, said: "Very sad to hear of the death of inspirational David Nobbs, who I had quite a few laughs with.
"A comic genius and an excellent human being."
A man has been charged with possessing Class A drugs with intent to supply after cocaine worth an estimated £100,000 was seized by police in County Down.
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Writer David Nobbs, best known for creating the television character Reginald Perrin, has died, the British Humanist Association has said.