Officers were called shortly after 3am to reports of a burglary at the One Stop Store and Post Office on High Street in Feltwell.
Norfolk Police say that suspects forced entry into the building and removed the cash machine from inside it before loading it onto what is thought to be a small black vehicle.
No one was injured as a result of the incident and the road has been cordoned off and closed while police continue their enquiries.
A staff member at the nearby Londis, who did not wish to be named, said the One Stop had only been refurbished a few years ago.
She said: “We feel for them definitely. You’re trying to build up a business in the village and then something like this happens.
“You just have to protect yourself as best you can but sometimes you cannot stop them.”
A resident, who did not want to be named, said the shop is used regularly. He said: “It is not nice I must admit. But these days that is life.”
Officers are keen to hear from those who may have witnesses the incident this morning or who have any information concerning it.
Witnesses should contact Norfolk Constabulary on 101 or call Crimestoppers anonymously on 0800 555 111, quoting reference 26 of April 16.
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