The 73-year-old victim awoke around 5.30am on Tuesday, March 18 and realised he was being towed away from where he’d parked outside his son’s home on Broken River Dve, according to police.
The man called police and Shepparton Crime Investigation detectives continue to investigate the incident.
The man was not physically injured.
The unknown thieves drove to Bridewell Crt where they unhooked the caravan.
Police arrived as the thieves were returning to their vehicle, a white Nissan Navara.
According to police, officers tried to intercept the vehicle, but it sped off, crossing on to the wrong side of Richmond St.
Police said checks revealed the Nissan, which was last seen travelling east on Channel Rd, was stolen from the Melbourne suburb of Newport last month.
The vehicle was also sighted at several other thefts, according to police.
The other incidents identified include towing a stolen caravan in Spotswood on March 6, a trailer theft and other thefts in Point Cook on March 8, and a motorbike theft in Kensington on March 13.
Police said the Nissan was last seen with stolen number plates 2BV 8VM.
Officers have released an image of the vehicle and urge anyone who sees it to call 000.
Additionally, police are urging anyone with information on any of the incidents the vehicle was involved in, including CCTV or dashcam footage, to contact Crime Stoppers on 1800 333 000 or submit a confidential report online at crimestoppersvic.com.au