Coast Guard and U.S. Customs and Border Protection crews located the semi-submersible vessel July 13 near Honduras' border with Nicaragua.
An FBI dive team recovered the drugs on board after the Coast Guard found the sunken vessel last week.
Five crew members aboard the sub were taken into custody.
Semi-submersible crafts are regularly used to smuggle drugs along Central America's Pacific Coast, but authorities say the subs are not common in Caribbean waters.
