Pele has been attacked and robbed at gun point, according to O Estado de Sao Paulo newspaper.
The three-time World Cup winner, considered by many as the world’s best ever player, had gold jewellery, a mobile phone and an expensive wrist watch stolen by the 10-strong gang when his chauffeur-driven car was besieged in a traffic jam in Guaruja.
The incident, which also saw other drivers and passengers robbed, happened near a tunnel which connects the Conego Domenico Rangoni road with A Ensenada Beach, close to Pernambuco Beach where Pele has a holiday house. The 67-year-old was unhurt.
The thieves are said to have recognised that their victim was Pele before running away.
Local police said they had yet to receive an official report.