Two men involved in a dramatic arrest in Centennial Park last week have been charged with the supply of almost one tonne of cocaine, carrying an estimated street value of $360 million.

Aukuso Junior Paulo, 34, from Crows Nest, and Kigi Kamuta, 39, from The Ponds, were two of three men arrested while travelling with two semi-automatic weapons and $650,000 in cash, during a planned police operation in the eastern suburbs park.

A third man, Royce Royal Hura, 27, was also arrested at the scene.

Both Mr Hura and Mr Paulo are former players of the Parramatta Eels rugby league club.