One of the figures in the monument to three Maltese actors in Bisazza Street, Sliema, was found broken in half this morning.
The police are to study CCTV to establish whether it was a case of vandalism.
The figures show Gemma Portelli, Charles Clews and Victor Apap sitting around a table, with a fourth vacant chair which people can use to be photographed.
The figure of Mr Apap was found broken at the waist and leaning forward.
The monument is made of ceramic glass and suffered other damage over the years.
The head of Mr Apap's figure was smashed in June 2011.
The head of the statue of Charles Clews was smashed earlier in the same year.