The cannabis was found last Friday by officers acting on information about suspicious activity in woodland in Darnall.
South Yorkshire Police said: “Our patrols often take us to some weird and wonderful places. On Friday we found ourselves checking an area of Woodland in Darnall. Information had been received relating to suspicious activity at the location.
“Following our noses and footprints in the soil we came across this stash hidden in a bush.
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“The contents of the bag, along with scales and dealer bags equates to over £1,000 in value.
“If anyone has lost it feel free to get in touch we'd love to talk with you.”
Anyone with information about those involved in drug dealing in Sheffield should call South Yorkshire Police on 101.
Crimestoppers can also be contacted, anonymously, on 0800 555111.