About 360kg (793lbs) of the drug was found on Hopton beach, near Great Yarmouth and a beach near Caister, the National Crime Agency (NCA) said.
A member of the public contacted Norfolk Police having discovered a number of holdalls containing packages of cocaine on Hopton Beach.
The agency said the find would be a "major blow to the organised criminals involved."
Matthew Rivers, from the NCA's border investigation team, said: "We are now working with Border Force, the Coastguard Agency and Norfolk Police to try and establish how the bags ended up where they did, however it is extremely unlikely that this was their intended destination.
"This is obviously a substantial seizure of class A drugs and its loss will represent a major blow to the organised criminals involved."
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