The men, aged 36 and 42, are due to appear before the courts this morning.
A PSNI spokesperson said: “Detectives have charged two men, aged 36 and 42, with drugs offences following the recovery of suspected class B drugs with a value of £275,000 as a result of searches at properties in Lurgan and Belfast on Tuesday 26th July.
“The men have been charged with possession of class B drugs and possession with intent to supply class B drugs. Both are due to appear at court today, the 36 year old at Belfast Magistrates Court and the 42 year old at Craigavon Magistrates Court. As is normal procedure all charges are reviewed by the Public Prosecution Service.
“Two other men, aged 36 and 40, arrested in connection with this matter have been released on bail pending further police enquiries.”