President Maithripala Sirisena said 769 kilograms of Cocaine would be destroyed this morning in his presence.
Sirisena also added that judicial proceedings on them had been completed and the stocks would be destroyed under the observation of judicial authorities.
The move comes as part of the President's ongoing battle against drugs.
Meanwhile, addressing a public meeting yesterday, President Sirisena said the date had been fixed to impose the death penalty on drug offenders.
Although the President did not reveal the exact date when the death penalty would be carried out, he said the move had been "blessed" by religious leaders.