Police seized eight tiger skeletons, three panther heads, 560 gall bladders and more than 700 kilograms of wildlife parts in a raid on two houses in Hanoi, Wednesday night.
The stockpile is estimated to be worth billions of Vietnamese Dong on the black market.
Hanoi police searched the houses belonging to Nguyen The Gioi, 54, after they caught two men transporting panther and chamois bones on the city street earlier that same day.
Police also came upon an area to process animal bones into glue and to dry gall, and 300 pieces of glue ready for sale.
Gioi, his wife and five other people involved in the trafficking ring have been detained by the police.
Authorities say they were tipped off about the ring's activities in early June. The tipster alledged that the ring had been dealing in wildlife bile and bone glue, which are key ingredients in Chinese medicinal tonics.
The ring is based in Hanoi and has members working in many cities and provinces, according to first observation by the unit.
Officials suspect that this might be the biggest wildlife bone and tusk trafficking ring ever busted in Hanoi. Police say the investigation continues to be underway.