Ivory weighing 262kg has been confiscated by customs authorities in Zurich airport after being discovered packed in eight suitcases.
The luggage appears to have been in transit from Dar es Salam in Tanzania to Beijing via Zurich. They had been dispatched from Tanzania by three Chinese men.
The contraband could have come from as many as 50 elephants, according to officials, with a value on the illegal market of some 400,000 Swiss francs (£265,000).
The tusks had been sawn into 172 pieces in order to fit in the baggage. In addition, 21 lion fangs and 35 lion claws were found along with the tusk pieces.
The three men were detained and questioned in Zurich. They could face hefty fines if found guilty of flaunting customs and animal protection regulations.
Aggressive and illegal elephant and rhino hunting has been rising mercilessly in order to satisfy demand, particularly from China. The tusks are used to create jewellery and artefacts while the lion fangs and paws could be fashioned into jewellery or used in traditional medicine.