I need to upload 480GB data including 50,000 folders and Files in alfresco, Which is the better way to approach.
Can anyone suggest me
Have you considered the Bulk Import Tool ?
See also other related discussions & presentations, such as:
Otherwise, you could also consider using FTP &/or WebDAV ?
I agree that the Bulk Import Tool Jan is pointing you to is most likely the way to go.
With so many folders, you need to think carefully about the folder structure and how/if your users will be using Share to browse that content. If so, you may see problems for folders with more than 1000 direct children, depending on how you've configured the server.
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