A Monstrance, which contained the Host, was taken from St Peter's church in the town on Tuesday.
The vessel was returned to the church on Thursday after being recovered by police.
One man has been arrested.
The priest, Canon John Kearney, said the congregation were delighted when he made the announcement that it had been returned to the parish.
"There was an absolute sense of relief," he said.
"Indeed when I announced it in the church they broke out in applause - they were absolutely thrilled to bits that this had come back."
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