The ivory was found this week in two separate shipping containers that originated in Tanzania and Kenya, CNN reported Saturday.
With a combined weight of more than 8,000 pounds, the shipments were among the largest seizures of ivory in Hong Kong.
Acting on a tip from officials in China, customs officials said they inspected a container from Tanzania Tuesday that a shipper had claimed was plastic scrap, and found $13.5 million worth of ivory.
They inspected a container from Kenya Wednesday and found $13.2 million of ivory.
Seven people, including a Hong Kong resident, have been arrested in the case, a customs spokesman said.