Zimbabwe's parks agency says it has seized 200 kilograms (440 pounds) of ivory destined for Malaysia.
National Parks and Wildlife Management Authority spokesman Tinashe Farawo on Wednesday said the ivory was worth over $500,000.
Farawo says no one has been arrested yet and police questioned officials from a travel agency before releasing them.
Poaching is rife in Zimbabwe's national parks, which teem with elephants and other big game.
The agency says close to 900 elephants have been poached since 2013. The southern African country is estimated to have more than 84,000 elephants.