About $4.4 billion (US$52 million) worth of cocaine was discovered on a ship at the Kingston Wharves on Tuesday.
Five foreign nationals were taken into custody in connection with the seizure.
According to Sergeant Jubert Llewellyn, spokesman for Operation Kingfish, more than 37 kilograms (approximately 81lb) of cocaine was found during an operation which was carried out by members of the Contraband Enforcement team.
Investigators say the vessel had stopped in Jamaica to take on containers, after which it was said to be heading for Panama.
The ship was reportedly searched and the captain, who is a German national and four Philippine nationals were subsequently taken into custody.