Detective Acting Sergeant Elissa Smith, of the Warrnambool police divisional tasking unit, said a late model Mercedes sedan was pulled over by police officers in Mahoneys Road, east Warrnambool, at 9.10pm Friday.

A 22-year-old male learner driver from Seaholme, near Altona in the western suburbs of Melbourne, was behind the wheel and being supervised by a 32-year-old Warrnambool man.

The supervising driver was positive for an illicit substance in an oral fluid test.

A search revealed the driver was carrying $2165 in cash and the supervising driver $1600.

Police then executed a drugs search warrant at a nearby Greenvale Court address.

Officers found 35 grams of ecstasy, 30g of cocaine, 36g of horse tranquilizer ketamine, 50g of whole magic mushrooms and a small amount of cannabis.

In the driver's bedroom there was just over another $2000 in cash and in the passenger's bedroom another $20,100 in cash.

Detective Acting Sergeant Smith said both men had been charged with trafficking cocaine, ecstasy, ketamine, magic mushrooms and cannabis and possession of the proceeds of crime - the cash.

"It was a great result," she said.

"A woman was also arrested at the Greenvale Court address but later released from police custody."

The men were interviewed, charged and remanded in custody to appear in the Warrnambool Magistrates Court for a bail/remand hearing on Monday.

The bust continues an outstanding run of success for south-west police in drug-related crime.

That success has included the dismantling of a major methamphetamine trafficking ring, supplying the south-west and south-east South Australia, and raids on six cannabis crop houses and a cannabis drying operation.

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