Three tons of cocaine and millions of euros in cash were seized by Dutch police in an operation Tuesday on a farm near Amsterdam's Schiphol airport, becoming one of the country’s biggest drug hauls to date.

Law enforcement swooped in last Thursday on the property near the village of De Kwakel, a few kilometers south of Schiphol, after a long-running probe, arresting a suspect.

A second suspect was stopped later in a car nearby, police said in a statement.

"The cocaine has a street value of 195 million euros ($232 million)," police said, adding: "This is one of the biggest seizures in the history of the Amsterdam police."

Police also confiscated 11.3 million euros in cash, as well as luxury items including expensive wines, an antique car and a book about boxing legend Muhammad Ali valued at 12,500 euros ($14,877), Dutch public broadcaster NOS said.

Six weapons, silencers, ammunition and money-counting machines were also seized.

The two suspects, aged 54 and 29, remain in custody and are facing charges of large-scale drug dealing, police said.

The cocaine "is most likely part of a South American drugs pipeline" and further arrests are expected, the statement added.

The Netherlands has become a major conduit for drugs, particularly cocaine, into Europe, mainly through Europe's largest port of Rotterdam.

Europol in its latest flagship report in April warned that the continent was being flooded by "unprecedented quantities of cocaine, generating multi-billion-euro profits" for criminals both in Europe and South America.

The cocaine trade has fuelled criminal enterprises "that use their enormous resources to infiltrate and undermine the EU's economy, public institutions and society," Europol said.

Belgian, Dutch and German police in February seized a record 23 tons of cocaine destined for the Netherlands, worth billions of euros, after raids in Hamburg and Antwerp.