The 24-year-old Monégasque was reportedly with friends and his trainer, Andrea Ferrari, in the Tuscan city of Viareggio on Monday night when he was approached by a crowd of fans.
While the crowd formed for autographs and photographs, the Ferrari star’s watch was allegedly snatched from his left wrist.
Leclerc gave chase to the thief in his Ferrari sports car but to no avail, according to Italian news agency ANSA.
A prototype of the unique Richard Mille watch fetched over 2 million French francs (AUD 451,310) at auction last year, ANSA reports.
Leclerc’s trainer, Ferrari, posted to Instagram: “Via Salvatori has been completely in the dark for months. We have been reporting this for months.
“Well, yesterday evening in Via Salvatori, they robbed us. Think of arranging the lamps sooner or later? Asking for a friend.”
Local police have launched an investigation into the incident.
Located roughly 180 kilometres east of Viareggio, Imola hosts Round 4 of the F1 world championship on April 22 to 24.
Leclerc has quickly opened up a 34-point advantage having won the Bahrain and Australian Grands Prix, and finished second to Max Verstappen in Saudi Arabia.
