The member of the feminist group Femen was tackled to the ground by police as she attempted the desperate snatch on Christmas Day.
A photographer at the scene said the activist shouted “God is woman” as she jumped over guard rails in the holy centre of Italy – the same slogan was printed on her back.
A Vatican guard stopped the woman as she clung to the statue of Jesus – she was detained at the scene.
The incident happened hours before Pope Francis delivered his Christmas message.
Femen’s website identifies the activist as Alisa Vinogradova and described her as a “sextremist”.
It adds: “FEMEN considers the anti-war policy of the Vatican a rough medieval attack on the freedom of women and their natural rights.
“FEMEN encourages women to follow the example of the movement and kidnap babies from religious denominations, thus, stating their right to use of their own body!
“A child is not from a god, but from a woman! For a woman is God!”
The woman managed to overcome Italian security that was supposedly ramped up for the Christmas period.
Reports claimed yesterday that Rome would see increased security around St. Peter’s Square due to the close proximity of tourist locations such as Vatican museums and Sistine Chapel.
Meanwhile, Turin, the city that hosted the Champions League final in June, will not allow firecrackers or fireworks to play a part in New Year celebrations.
The region was plagued with more than 1500 wounded civilians and one dead after a stampede erupted during the hugely-popular football event.
Florence will see increased security personnel on New Year’s Eve where turnstiles and metal detectors will be used in addition to crowd controlling at the Piazzale Michelangelo – an area set to see tons of Italians looking to bring in 2018.
A satellite tracking system will be implemented to monitor the number of people inside the square – crowds are limited to 15,000 for the celebrations.
Meanwhile, Milan has bolstered its security to prevent the possibility of cars ploughing into pedestrians with the city limiting entry locations.
In his Christmas delivery, Pope Francis called for a resolution to conflict between Israel and Palestine following increased tensions in the region.
He declared: “Let us pray that the will to resume dialogue may prevail between the parties and that a negotiated solution can finally be reached, one that would allow the peaceful coexistence of two states within mutually agreed and internationally recognised borders.
“We see Jesus in the children of the Middle East who continue to suffer because of growing tensions between Israelis and Palestinians.”