Gary Gullock's house in Ballarat, in Victoria's Central Highlands, was broken into over the weekend, where thieves took his medal, won at the 1984 Los Angeles Olympic Games.

He won the medal in the quadruple sculls event, becoming the first athlete from Ballarat to win an Olympic medal.

It was the only Olympics in which he competed and the only medal he won.

Mr Gullock said it was shattering to have such a treasured item taken from him.

"It was the highlight of my sporting career, and of course it's irreplaceable and it's useless to anyone else but the person who won it," he said.

The Rowing Victoria Hall of Fame member and his wife were away for the weekend when their home was broken into sometime between Saturday afternoon and Sunday lunchtime.

A safety deposit box containing the medal and other valuables was taken.

"They probably didn't realise it was in there until the box had gone completely, it wasn't opened in the house, so I assume they didn't know what was in it hoping there was valuables and probably discovered this medal in there now that they don't know what to do with," he said.

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The medal does not have Mr Gullock's name on it, as it was presented straight after the event - but it does have the event engraved on it.

"I'd just love the medal to be returned by whoever has taken it or discovered they've got it.

"It doesn't worry me about any of the other things that were stolen ... I think the medal would be worth nothing to anyone and I would dearly love it."

"You've got to understand that these things don't come by easily and it would mean a hell of a lot, be very nice to get it back in some way. I don't know if that's ever going to happen."

Ballarat Criminal Investigation Unit are investigating the burglary and anybody with information is asked to contact Crime Stoppers on 1800 333 000.