Officers from Police Scotland raided a property in the Carntyne area of the city on Wednesday morning where they recovered the drugs, thought to be heroin.
Also recovered as part of the raid was a quantity of tablets, a firearm and ammunition.
The police operation saw officers enter the property in Inverleith Street at around 9.15am.
Inquiries are continuing in relation to the operation.
A 33-year-old man was charged in connection with the operation and later released. He will appear in court at a later date.
A full report will be submitted to the procurator fiscal.