Federal officials say 109 kilograms of elvers were seized at Toronto Pearson International Airport on Wednesday.
The seizure was carried out by the Department of Fisheries and Oceans in conjunction with members of the Canada Border Services Agency.
The elvers were slated to be shipped overseas.
It's estimated the value of the elvers seized is between $400,000 and $500,000.
The seizure comes two months after the Department of Fisheries and Oceans announced it would not be reopening the elver fishery due to safety and conservation concerns.
Federal data shows 149 people have been arrested for elver-related crimes, and nearly 208 kilograms of elvers have been seized so far this year.