The statue -- the smallest of three bronze pigs in Oak Creek Park -- disappeared Jan. 22, the Austin American-Statesman reported.
Police investigators found the pig Wednesday, but did not give out details about the discovery.
"I can tell you we located it over in Belton," Cpl. Christopher M. Wilcox said, adding that's about all he could share as the investigation is ongoing.
The statue will be put back in the park after a criminal investigation is completed.