Authorities say Matthew Mervine, 22, failed to appear at his preliminary hearing on Thursday morning.
Officers are now looking for him.
Mervine, of Berlin, New Jersey, is accused of snatching the rings, right after filling out a job application in the Phillies executive suite.
The theft happened on October 8, 2009 around 5:00 p.m., while Game 2 of the NLDS was still underway.
Police say Mervine was ejected from the game for 'unruly behavior.' He was wearing a mask labeled "Rockies Killer."
Instead of leaving, investigators say, he went to a Phillies office to fill out a job application. Video surveillance showed him leaving with a manila envelope that was on the reception desk.
Inside were three World Series rings. However, they were not the $11,000 rings given to the players, but $1,100 rings intended for three Phillies' employees.
Police were able to track down Mervine quickly because he left his job application behind, complete with his name, address and phone number. He was arrested at his home in Berlin, New Jersey.
Mervine is no stranger to law enforcement. He had been arrested before on narcotics and carjacking charges.
This isn't the first time a stolen World Series ring has made the news. In late August, police say janitor Anthony Mobley, 54, from Yeadon, Pa. stole a World Series ring that was left in a bathroom by a Phillies executive. He was arrested a few days later.