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Gold bars with a street value of R61 million were seized at OR Tambo International Airport on Sunday.
Police spokesperson Athlenda Mathe says airport security was alerted to the gold through scanners.
Mathe says the trio flew in from Madagascar and were making their way to Dubai when they were arrested.
"A multi-disciplinary team consisting of the South African Police Service, the South African Revenue Service customs officials, Port Health officials, and officials from the Department of Home Affairs pounced on the trio at the international arrival terminals.
"Upon questioning of the suspects and further inspection of their hand luggage, officials discovered the gold bars and some foreign currency," Mathe says.
She said the Hawks are investigating the origin of the gold.
"With the assistance of Interpol with authorities from various countries to determine the legitimacy of the certification papers as provided by the men and also to determine the country of origin where the gold was mined.
"Investigations will also focus on which country the gold bars were destined for."
The suspects are expected to appear in the Kempton Park Magistrate’s Court soon.