Vandals are believed to have wrenched off the crown from the iconic wolf sculpture on Southgate Green roundabout in Bury St Edmunds.
Martyn Taylor, chairman of the Bury Society, said the steel crown has been ‘broken off’ from the Abbey stones on which it was attached.
He said a member of the Society noticed it and took the crown to Bury police station for safe keeping.
Mr Taylor believes the crown was taken off on Friday night.
The crown was attached to a metal pole which ran through the centre of the Abbey stones and the pole was cemented into the ground.
The sculpture, installed in November 2013 and commissioned by the Society’s Bury in Bloom group, represents the legendary wolf guarding the crown of St Edmund.
The wolf was created by Ben Loughrill and the crown was fashioned by Nigel Kaines, from Designs on Metal, in Stowlangtoft.
Melanie Lesser, co-ordinator of Bury in Bloom, said they tried to make the crown ‘as secure as possible’ when it was installed.
She said: “You can’t just pull it out - they must have had to twist it off.”
Mrs Lesser has since asked Mr Kaines to reinstall it.
“People love the wolf. It’s very disappointing for residents and visitors alike. I hope it can be mended and restored. We will have to make it even more secure,” she said.
It follows vandalism to the Blanchard Planter, in St Mary’s Square, in July after one of its stone urns was overturned.
Mr Taylor said: “What is wrong with people just recently the urn damaged in St Mary’s Square and now this.”