Police made the discovery when a van was stopped on the Hillsborough Road in Hillsborough on Friday.
The man, 34, is due to appear before Lisburn Magistrates' Court on Monday.
Police said the cocaine was "destined for distribution and sale" on the streets of Northern Ireland.
"We are delighted to have removed it from circulation," said Det Insp Alan Pyper.
"The Police Service of Northern Ireland is continually working to identify those involved in the supply of drugs and put an end to their deadly trade."
A man has been charged with possessing Class A drugs with intent to supply after cocaine worth an estimated £100,000 was seized by police in County Down.