The Royal Borough has put up a £1,000 reward for information leading to the successful prosecution of callous thieves who stole the Ray Mill Island memorial to four Altwood School pupils who died in a skiing tragedy in April 1988.
The statue of a boy and dog by local artist Eunice Goodman went missing between 5pm on Friday and 10.30am on Saturday morning.
Cllr Simon Dudley, cabinet member for adult and community services, said: "This is an appalling act of heartless thievery. The statue is a memorial to four young lads who lost their lives during a school trip and the entire community will be disgusted by this wanton disregard for the feelings of their families and friends.
"The borough is not prepared to allow this to go unpunished. As well as working closely with the police to catch the perpetrators we are offering a £1,000 reward for any information that will lead to the return of the statue and a successful prosecution."
Anyone who has information that might help the police apprehend the culprits should contact the Riverside and Belmont police neighbourhood team on 0845 8 505 505. If you do not want to speak to the police or leave your name call Crimestoppers on 0800 555 111