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The 13-year-old victim rode his bike to Martin's Newsagents, Whaddon Way, around 6.50am to start his newspaper delivery round.
He went into the shop to collect the newspapers and when he came out of the shop his bike had been taken.
The bicycle is a DK, BMX style with a pale blue frame, black handle bars, white saddle, white brake cable, a chrome back wheel and the front wheel is black.
PC Sarah North-Keeling, investigating the theft, said:
"The victim worked hard to pay for his bicycle himself and has been left very upset by the theft.
"I am appealing to anyone who may have seen someone take the bike from outside the shop or recognise the description of the bike to contact me or Crimestoppers."
Anyone with information can contact PC North-Keeling at Milton Keynes police station via the 24-hour non-emergency Police Enquiry Centre on 0845 8 505 505. If you do not want to talk to the police, call Crimestoppers anonymously on 0800 555 111
Martin's Newsagents
Bletchley
Milton Keynes
West Midlands
MK3
