UPDATE - One truck a white 2004 Hino tray with a yellow Yanmar excavator on top of the tray, is still missing.
Police have this morning recovered one of the stolen trucks at Oaklands Junction Melbourne.
Police continue to investigate the theft of trucks at Airport West, Melbourne overnight.
It's understood thieves gained entry to a truck storage yard in Fraser Street about 3.45am.
Once in the yard the offenders stole two trucks and trailers that had excavators on them.
Investigators have been told one of the trucks was sighted in Oaklands Junction shortly after.
The investigation is ongoing. Anyone with information is urged to contact Crime Stoppers on 1800 333 000.