The huge price of the package gets people a ticket to one of her shows, a photo and one item signed by her.
The offer was taken down from TicketWeb last night after the Daily Star called Cheryl's representatives to investigate.
One Twitter user, Kurstie Martin, from Essex, wrote: "£350 for a M&G with Cheryl Cole! After the jubilee disaster I wouldn't pay £3.50! No 1 is that special u should have 2 pay 2 meet them #Please."
Cheryl Gerhard added: "As much as I like Cheryl, £350 for a M&G is TOO much and not nice at all."
Amy Farrent, of tour promoters LiveNation, told the publication: "I think Rihanna's were a similar price."
Other fans pointed out The Voice judge Jessie J, 24, had charged just £110 in comparison for meet and greet tickets.
Cheryl's spokesman Sundraj Sreenivasan said he did not know anything about the offer however after contacting the Call My Name star's management he assured customers that their money was going to a good cause.
He said: "All profits from the meet and greets go to the Cheryl Cole Foundation."
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