From the Java documentation:
A Java application can accept any number of arguments from the command line.
However, these arguments are passed in the form of an array. From this link here: Do Java arrays have a maximum size?, the size of an array was discussed as being:
Integer.MAX_VALUE - 5
Therefore, that should be the limit.
Edit: Thanks for @MrLore who provided the following link discussing the limits on Unix machines in his comment above: