A third man is due to be arraigned on Thursday in connection with the discovery of 146kg of drugs on a truck as it was driven out of Malta Freeport on November 12.
Four persons were initially arrested in connection with the case and two have since been arraigned. The drug, cocaine, was estimated to have a street value of €20 million.
The police said another man, 31 or Zejtun, was arrested on Wednesday.
The police also seized a 'considerable amount" of cash, luxury cars and jewellery.
The man is due to be arraigned and accused of drug trafficking, money laundering and participation in organised crime.