A Melbourne council has voted to rebuild a captain cook statue that was vandalised in the lead up to January 26.

City of Port Phillip councillors last night voted in favour of rebuilding the statue after it was cut down at the ankles.

Councillors voted five to four against a proposal to put the issue up for community consultation.

The Boonwurrung Land and Sea Council reportedly had made a submission prior to the vote, supporting the statues repairs.

However CEO of the Federation of Victorian traditional owner corporations, Paul Patton has expressed disappointment that the community wont be consulted.