Investigators believe an unknown offender climbed the front fence of a hardware store on Murradoc Road in Drysdale, on the Bellarine Peninsula, just before 9pm on Saturday, September 11.
The offender is thought to have removed 'Jacko' the cockatoo from his cage and fled the scene.
Jacko is a yellow-crested cockatoo and is believed to be aged in his 20s.
He is known as a bit of a local celebrity in Drysdale.
Police have released a photo of a man that may be able to assist with their inquiries.
The photo depicts what appears to be a man running with Jacko almost upside down under his arm.
Anyone with information that could assist with the investigation is urged to contact Crime Stoppers on 18000 333 000 or submit a confidential report online at www.crimestoppersvic.com.au