The stolen goods, 146 skids worth of items including toys, strollers and food among other things, were recovered Friday at a warehouse in Brampton, Ont.
The goods were then moved out of the warehouse by three tractor-trailers and are being inventoried by police before they are returned to the charity.
"We commend the Toronto Police Service for what appears to be timely progress in its investigation and wish it continued success," the charity said in a statement Saturday afternoon.
"Further, we very much appreciate the response of individuals and companies that have stepped forward with donations at our time of need."
Salvation Army spokesman John Murray said last week that the apparent theft was discovered in August.
Earlier this month, the Salvation Army fired the executive director of its Booth Centre in Ottawa after an internal audit revealed that $240,000 was missing.
Police are investigating.