Four men forced their way into a convenience store and dragged the cashpoint out using a pick-up truck.
The break-in happened just after 1.45am today at the Central Convenience Stores in New Road, Swanmore.
Police said that four men with covered faces forced their way in and attached a rope to the cash machine at the back of the store.
They pulled it out by attaching it to a black pick-up truck.
A lot of damage was caused to the shop, and the men drove off towards Bishop’s Waltham in the truck.
Police are now appealing for witnesses, and anyone who knows anything about it has been asked to call PC Daniel Cox at Fareham police station on 101.
They are investigating whether it is linked to other cashpoint thefts in the area, including one at Rownhams service station on the M27 last month, but a spokesman said there is nothing at this stage to say it is connected.