The 32 and 42-year-old were arrested in connection with drugs offences.
Stuart McDonald and John Neilson were remanded in custody after they appeared at Alloa Sheriff Court on various misuse of drugs offences. Neither made any plea and will appear in court again next month.
Central Scotland Police made the arrests following a raide on a house in Tillicoultry and business premises in nearby Alva, Clackmannanshire on Friday afternoon.
Police said the drugs found are cocaine, heroin and amphetamines.
Detective Inspector Ian Motion, of Central Scotland Police, said: "Once the purity has been established we believe the street value will be over £1m.
"We believe these drugs would have been destined for the streets of the Forth Valley area and we are delighted at the end result."
Stuart McDonald, 42, and John Neilson, 32, appeared in Alloa Sheriff Court yesterday on various misuse-of-drugs charges.
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