Officers who searched an industrial estate in Cumbernauld recovered more than 2000 plants.
They targeted a commercial premises in the town's Mid Road at around 5.30pm on Tuesday.
Police Scotland confirmed inquiries into the haul are continuing.
Sergeant Michelle Thomson said: "Police Scotland will continue to pursue those involved in the drugs trade.
"This is a significant recovery and will certainly have an impact on those involved in the cultivation and further distribution of these drugs."
The cannabis seizure comes after police recovered drugs worth £1.1m in a van they pulled over on the M74 on Tuesday.
Officers discovered around 110 kilograms of amphetamine sulphate, commonly known as speed, in a vehicle near Larkhall, South Lanarkshire.
A 43-year-old man was arrested.