The Howitzer, which was bought by Mrs Owens as a community project in 1993, was discovered missing from its spot next to the Clyde cenotaph in September.
Investigations led her to Alexandra-Clyde RSA president Kevin Harding, who said in September the gun had been removed for restoration.
He said it would be painted and restored so it could fire blanks for commemorative occasions such as Anzac Day.
However, that move raised concerns with Mrs Owens, who was told when she bought it that she could only make the purchase if it was made inoperable.
''It was to be a static piece, never to be used,'' she said.
The gun has since been returned ''untouched'', Mr Harding said.
Mrs Owens said it was good to see it back.
''It's not only good - it is lawfully where it is supposed to be.
''I'm relieved and very pleased to see it returned,'' she said.
