He was arrested on Monday in Ainsworth Avenue. The drugs were found in a nearby vehicle.
Police have said it may be linked to the seizure of £200,000 worth of cannabis found in the Donegall Road area of south Belfast area on 2 March.
Follow-up searches have been carried out following Monday's find.
A 37-year-old man has been arrested after £140,000 of cannabis was found in a car in west Belfast.