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Nairn Campus in Kirkcaldy was once part of a 7.65-acre site owned by Fife College, however, it closed in 2016 and was subdivided.
The derelict building on High Street was found to be a cannabis farm, with 5000 plants, during a search by officers with a warrant at around 12.40pm on Wednesday.
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Police Scotland said inquiries are ongoing.
Sergeant Johny Lister said: “This is a very significant recovery and is an example of our efforts to disrupt the activity of illegal drugs in Scotland.
“Drugs cause misery in our communities.
“This recovery also underlines our commitment to the Serious Organised Crime Taskforce and the country’s Serious Organised Crime Strategy.
“The public has an important role to play in helping Police Scotland target those responsible for the cultivation, supply and sale of illegal substances.
“Anyone with any information or concerns about drugs in their community can call Police Scotland on 101, or contact Crimestoppers anonymously on 0800 555 111.”
“}]] POLICE have seized cannabis plants worth an estimated £7 million after carrying out a raid at a derelict former college in Fife … Read More