Detectives had obtained a search warrant to go through Lohan's Venice home, but the warrant was canceled Tuesday when one of her associates dropped the necklace off at a police station about 8 p.m.
The Los Angeles District Attorney's Office has taken the case against Lohan. They have not decided whether they will file charges or not.
The incident is the latest in a string of scandals and missteps for the 24 year old.
According to the /*Los Angeles Police Department*/, Lohan was trying on jewelry at Kamofie & Company in Venice on Jan. 22. One of the pieces she had tried on, a $2,500 necklace, vanished that day.
Celebrity news site Radar Online reported that store surveillance video showed the necklace was last seen around Lohan's neck. LAPD would not confirm that information.
"We were given a report listing her as a possible suspect," said LAPD Lt. Jeff Bert.
Once the investigation was under way and a search warrant was obtained, detectives said the necklace made a fortuitous appearance at the LAPD Pacific Station.
"They dropped it off to our night watch detectives," Bert said. "I was notified, I came in, examined in, ensured that it was the necklace that we were seeking."
With the necklace in hand, the LAPD canceled its search warrant.
"We're letting the police do what they need to do," said the jewelry shop's owner, Jeff Kaman, adding that they were not at liberty to discuss the incident.
Lohan is currently on probation and is already facing possible criminal charges for allegedly assaulting a worker at the Betty Ford clinic.
Lohan has not spoken to the media about the necklace incident, but she did say through her attorney that she was not involved in any wrongdoing.
