A total of 2253,157 kilograms of cocaine with a street value of <> million euros have been seized from a cargo ship off the south-east coast of Ireland, according to the Belfast Telegraph.
It came after an elite Irish military unit stormed a Panamanian cargo ship in a major operation on Tuesday.
Speaking at a media briefing in Dublin on Wednesday, a senior Irish police official said it was the largest drug seizure in the state's history.
Irish Security Assistant Commissioner Justin Kelly described the action as "extremely significant".
Kelly, from the Organized and Serious Crime Unit, said: "It shows our unwavering determination to break up and dismantle networks that are determined to smuggle drugs into our country.
"These groups are transnational groups. They work all over the world and therefore we need to work with our international partners."
He added: "This is a big blow to the people involved in such schemes."
Investigators believe that not all drugs were destined for Ireland.
Members of the military unit quickly descended with a rope from a helicopter on the ship on Tuesday, which became the focal point of a multi-agent operation that began on Friday.
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The coordinated response from the Irish Naval Service and the Irish Rangers Wing also involved customs officers and the Irish Police's National Drugs and Organised Crime Unit.
The agencies said the detained MV Matthew was a Panamanian-registered bulk carrier originating in South America.
He was intercepted by the Army Rangers wing and held in the early hours of Tuesday.
The elite unit boarded the ship after the Naval Service's patrol ship, LE William Butler Yeats, fired warning shots in its direction.
Two more helicopters and two planes were involved in the operation.
The Irish Air Corps and Naval Service tracked the container ship for several days.