The valuables, dating back to the era of Alexander the Great, were possibly hidden during the unrest that followed after the death of the Macedonian king.
Experts said that more discoveries are likely to follow since the area remains largely unexplored. The exact location of the cave has not been made public.
Last month divers discovered a chest filled with gold coins in excellent state of preservation off the coast near Tel Aviv. Experts assumed the 2,000 gold coins could have been transported on an official treasury boat to Egypt when the ship sank. According to another theory, the treasure belonged to a large merchant ship.
In both instances, the discoveries were made by civilians, who reported them to the IAA as soon as they found the valuables.