The 5-foot, 5-inch statue, erected in 2009, went missing Friday from the town's beach boulevard and was discovered several hours later in some nearby bushes, Swedish news agency TT reported Monday.
The statue was not damaged.
Lagerlof, who died at the age of 81 in 1940, was best known for her book "The Wonderful Adventures of Nils" and won the Nobel Prize for Literature in 1909.
Ray Liotta sues skin care company over use of likeness
Boston schools pull out free condoms over wrapping complaints