The drugs are understood to have been hidden in farm machinery on board a ship which docked in the city.
Gardaí and revenue officers recovered the stash on Friday in a joint operation against organised crime.
Garda assistant commissioner John O'Driscoll said: "We are all about achieving results and this, in anyone's estimation, is a great result."
The investigation resulted in the identification and interception of 1,873 kilos (4,129 lbs) of herbal cannabis.
Investigations are continuing both in the Republic of Ireland and internationally.
The assistant commissioner said "the business of organised crime will be impacted" by the seizure.
He listed a string of recent operations, including the seizure of firearms from groups "intent on killing each other" in an apparent reference to recent gangland killings in the city.
Gardaí recently confiscated 18 cars in another blow against the underworld.
Assistant commissioner O'Driscoll added: "All of these actions together combine to have a significant impact on organised crime."
Irish police have welcomed the seizure of a €37.5m (£32.4m) cannabis haul at Dublin Port.