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Atlanta Hawks forward Mike Scott was arrested in Georgia on Thursday -- after cops say he was a passenger in a high speed chase ... in a car that was packed with drugs.

Cops say they tried to pull over a 2015 Chevrolet Tahoe for a routine traffic stop -- but the car zipped away on the Interstate -- reaching speeds up to 98 miles per hour!!!

The car eventually stopped after a 2 mile chase -- and when they searched the car, they found more than an ounce of weed and 10 grams of MDMA ... aka Molly.

Cops say the men admitted to having the drugs in the car.

The driver was charged with fleeing from cops, attempting to elude officers, following too closely and drug possession.

Scott was charged with felony marijuana possession and possession of a schedule 1 drug.