It currently sits at almost 90 degrees to its original position.
Staff from Marylebone Cricket Club (MCC), which owns Lord's, are working with specialists to restore it to its original position as soon as possible, a release said.
This is not the first time the weathervane has fallen foul of the elements: in 1992 it was struck by lightning and the subsequent repairs were featured on Blue Peter.
Father Time was given to MCC in 1926 by the architect of the Lord's Grand Stand, Sir Herbert Baker. During World War II, it was wrenched from its original perch when it became entangled in the steel cable of a barrage balloon.
The symbolism of the figure derives from Law 16(3) of the Laws of Cricket: "After the call of Time, the bails shall be removed from both wickets."
Father Time also 'tweets' on behalf of Lord's Cricket Ground via @HomeofCricket.