More than 1,000 tablets, a large quantity of suspected cannabis resin and £30,000 cash has been seized from a house in Okehampton.
Police executed a search warrant under the Misuse of Drugs Act at the address yesterday and seized the cash and suspected drugs.
A 56-year-old local man was arrested on suspicion of possessing drugs with intent to supply. He has since been bailed until February28.
Inspector Andy Oliver, from West Devon Police, said: “If the items are found to be controlled drugs once tested then this represents a significant drugs seizure with a street value of thousands of pounds.
“West Devon is a low crime area and with my staff taking positive action to enforce drugs legislation it will continue to remain a low crime area.”
The seizure follows a street operation in Tavistock last week which resulted in three people being detained for possession of cannabis and evidence of drugs misuse being detected in two licensed premises.