Releasing a picture of the idol, police announced a cash reward of Rs 25,000 to anyone providing basic details such as ownership about the antique item, to help them bring it back.
As per a "reliable" tip-off received by police, the idol of Nataraja or dancing Shiva had been stolen from a temple in the state and smuggled abroad and presently bought by an art gallery "in a foreign country".
The correct details about the idol's ownership, which obviously belongs to a temple in Tamil Nadu, are, however, not known.
"The CID (Idol Wing) immediately needs information pertaining to the idol," he said.
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The police announcement comes a day after Australian Prime Minsiter Tony Abbott handed over to his Indian counterpart Narendra Modi two antique statues of Hindu deities stolen from temples in the state before being bought by art galleries in his country.
The DIG said the idol could belong to a temple under the control of Hindu Religious and Charitable Endowments (HR and CE) Department of the state government or private trusts or mutts and might have been stolen.
General public, officials or employees of HR and CE or anybody who could provide information about the idol will be given a cash award of Rs 25,000. Secrecy will be maintained about the informers, the top police official said.
He also assured no action would be taken against officials for delayed reporting about the theft of the idol.
"Whatever may be the case, no one need to fear action against them for not apprising authorities about the theft of the ancient idol," he said.
Details about the idol can be forwarded at phone numbers 9840584729, 044-26220332, 044-26220310, the headquarters of Idol Wing CID.