Frost bought the Homer Noble Farm in rural Ripton the year after his wife died in 1939 and spent most of the year every year there until his death in 1963.
The historic landmark is now owned and maintained by nearby Middlebury College.
Vermont State Police spokesman Sgt. Lee Hodsden told ABC News wicker furniture was thrown into a fireplace to generate heat in the two-story farmhouse, while tables, chairs, windows, dishes and light fixtures were also destroyed by revelers late last week.
Vomit was found in the living room, as well as numerous plastic cups and a pair of discharged fire extinguishers, he said.
"It was an underage drinking party with a lot of alcohol and drug use," Hodsden said.
"Apparently, they play a game called beer pong. That's what all the cups were for."
No arrests have been made in the case, but police said the investigation is ongoing.
The damage was discovered by a hiker Saturday, ABC News said.