Police officers were alerted on May 3 after the statue was reported missing from its bench in Guildhall Square.
Following enquiries, Paddington was located at East Park.
A spokesperson for Southampton Police said: “He was recovered safely and, as you can see, was given a police escort while arrangements were made for his return.
“Thankfully, he was found in one piece – and he certainly needed a marmalade sandwich after his ordeal.
“While we know Paddington is a much-loved character and this may raise a smile, damage to public property is a serious offence.
“The statue brings joy to residents, visitors, families and businesses in the city centre, and it is disappointing to see him targeted again so soon after recent repairs.”
The incident comes not long after the statue was previously targeted by vandals, who removed it from its bench in Guildhall Square.
Police say enquiries are ongoing and officers are reviewing CCTV.
The spokesperson added: “Anyone who witnessed what happened, or who has information that could assist our investigation, is asked to contact us quoting 44260207135.
“Please look after Paddington. He is a bear of very good standing in our city.”