The back-to-back Commonwealth Games champion realised the medal had been stolen when he went to surprise a young fan at their school in Hamilton three weeks ago.

Police released a number of CCTV images and have now confirmed that the medal, which is said to be in good condition, has been found.

"My girlfriend took the call," Nyika told Stuff NZ.

"I was downstairs in the garage and I could hear through my headphones this high pitched shrieking.

"I quickly realised what had happened. 

"It's really the best case scenario."

The fan Nyika hoped to surprise had dressed as the boxer for a heroes day at their school.

The Kiwi beat Jason Whateley in Gold Coast to claim heavyweight gold at the Commonwealth Games last month.

Four years earlier he beat Kennedy St Pierre of Mauritius to the light heavyweight title at Glasgow 2014.

Nyika had reportedly arranged for a replacement medal before the original was discovered.