The man in his 20s was intercepted in a car on the Coast Road in Oranmore, and found in possession of drugs.
Follow-up searches of a separate vehicle and a house in Ballybane led to the discovery of a further quantity of cocaine. In total, gardaí estimate the street value of the cocaine seized at €80,000.
The man, held under Section 50 of the 2007 Criminal Justice Act, was released without charge on Wednesday, and a Garda spokesman said a file is being prepared for the Director of Public Prosecution.
The drugs will be sent to Forensic Science Ireland for analysis, and investigations into ongoing and associated criminal activity is ongoing.
