A bobcat and trailer was stolen from a property at Ardmona between June 14 and 15, police say.
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Both vehicles are yellow and the registration for the bobcat is 1KQ3FU.
Detective Paul van Emmerick from Shepparton police said the vehicles were heavy machinery and would weigh tonnes.
"The vehicle's tonnage is quite high and you would need specialised trailers especially to move the bitumen roller,'' he said.
"It couldn't be moved without people seeing or knowing."
The policeman said he believed the theft "must have been well planned".
Anyone who has any information they think would help with the investigation should phone Det van Emmerick on 5820 5800 or Crime Stoppers on 1800 333 000.