Thieves appear to be targeting high-end bikes, with police asking for members of the public to keep an eye out for a new e-bike.
The Earth e-bike was stolen in the early hours of December 2 from Surfside Holiday Park.
The battery was not attached at the time.
"The victim saw a male wearing beige clothing and a baseball cap with the bike," a police spokeswoman said.
Anyone with information is asked to contact Warrnambool police on 5560 1333.
Police are also seeking information on a $3000 mountain bike that was stolen on December 29.
The bright orange Merida Mauler was taken from a Port Fairy home.
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