Officers made the find, believed to be cocaine and cannabis, during a search of a flat in Mannering Road, Foxbar, Paisley.
A five-figure sum of cash was also seized.
A 45-year-old woman and a 38-year-old man have been arrested and detained in police custody in connection with the recovery.
They were expected to appear at Paisley Sheriff Court on Tuesday.
A full report will be forwarded to the procurator fiscal.
Detective Inspector Sandy Nelson of Paisley Police Office urged members of the public to come forward with their concerns.
She said information should be passed to police on 101, the non-emergency number.