The discovery was made during a planned police search of a residence at Carnreagh Bend, Newtownabbey, on Friday.
A sum of money was also recovered during the operation.
The 42-year-old man who was arrested has since been released on police bail pending further enquiries.
A man has been questioned over the seizure of suspected class A drugs with an estimated street value of more than £10,000 in County Antrim.