About 2.5kgs of cannabis resin was also found at a house at Clinstown, Stamullen.
Police initially said the drugs were worth 5.3m euros (£4.5m), however, it is understood that has been revised downwards to 3.8m euros (£3.3m).
The search involved Garda sniffer dogs. The arrested man is in his 30s.
A man has been arrested after police seized drugs including 160kgs of suspected herbal cannabis and about 30kgs of cocaine in County Meath.