A 40-year-old man faces charges of possessing the drug with intent to supply as well as having criminal property and concealing it.
A 25 year old faces charges including cultivating cannabis, supplying the drug and concealing criminal property,
Police said the drugs were found after a car was searched at Trench Road, Londonderry, on Thursday 22 September.
About £10,400 in cash was also seized during the search of a van on the Toomebridge Bypass at Hillhall Road.
Two men have been charged in connection with the seizure of cannabis worth an estimated £280,000 in Londonderry.