Officers uncovered the haul, along with other class A and C drugs, during a search of a property in Duke Street at around 2.25pm on Monday.
A man aged 44 and a 43-year-old woman have been charged in connection with drug offences and are due to appear at Falkirk Sheriff Court on December 4.
Inspector Liam Harman, of Falkirk Community Policing, said: “This was a significant recovery and sends a clear message that we will not tolerate drugs activity in our community.
“Information from members of the public is vital in helping us identify and target offenders and we will always act on intelligence received.
“If you have any information or concerns about drugs supply in your area, please contact Police Scotland on 101 or by making a call anonymously to the charity Crimestoppers on 0800 555 111.”