Substantial damage was done to the illuminated structure in Southport and people who saw the destruction taking place, or who knows anyone involved, are asked to phone Merseyside Police.
The vandalism is believed to have happened some time around 6.30am.
CCTV footage is being examined.
The tree is provided each year by Southport BID for families to enjoy and is owned and installed by Southport firm IllumiDex UK Ltd.
On Christmas Eve, IllumiDex UK Ltd asked people to keep a lookout for any issues after the tree was vandalised over the past couple of weeks.
Director Steve Clayton said: “They have ripped the wires out, damaged cables and have smashed beer bottles inside. There is broken glass everywhere.
“It is a mess. An absolute disaster.”
If anyone spots any damage to any of Southport’s Christmas trees please call police on 999. If anyone has information on someone who has been causing damage please call police on 101.