The school's historic bell, which dates back to the late 1800s, was removed from its bell tower in the school grounds over the weekend.

Staff and students at the small rural school discovered the theft when they went to ring the school bell to mark the end of lunchtime on Monday.

Principal Samantha Vella said it would have taken at least two people to remove the bell, which is estimated to weigh around 80kg, from its 10m tower.

"It would have no value to anybody. It's made out of iron. It's not brass or special in terms of its value but it's priceless to our community," Ms Vella said.

"We've got two families here, one fourth generation and one sixth generation, so their grandparents, great grandparents and great great grandparents had the same bell so it's absolutely devastating to them and our whole school community."

JW Horwood Albion Foundry, known for its bells, cast the school bell in its Castlemaine foundry some time between 1878 and 1894 but it is unclear when the bell came in to toll at Newlyn Primary School, which was established in 1858.

"What makes it even more significant is that during WWI they recalled a lot of bells to melt down to make ammunition and for whatever reason, Newlyn Primary School's bell didn't get taken.

"It's a survivor and hopefully it is still going to survive and the person who took it will bring it back."

The bell is used every day to mark the end of recess and lunch times.

"There's an unwritten roster whose turn it is to ring the bell," Ms Vella said. "We don't know exactly when it was taken but the last time I got to ring it was Friday at the end of play."

Nearby residents said they heard some noise around 2.30am Sunday but thought it was at the roundabout and could not see anything when they looked out.

Because of the weight of the bell and the lack of car tyre tracks in the yard, Ms Vella believes at least two people must have been involved in the theft to carry the heavy bell away.

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The thieves left their own rope behind after lowering the bell to the ground.

"We just want our bell back. We don't care how you get it back to us, we want our bell back. Small schools like Newlyn Primary School are still surviving and are rich in history and that history is what makes our school community so special.

"So for us to lose that little bit of history is so significant."

Anyone with information about the bell can contact the school or Crime Stoppers on 1800 333 000.

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