OJ Simpson -- Stolen Heisman Recovered ... Thief Still On the Loose

Big recovery for USC ... cops have found the school's duplicate copy of O.J. Simpson's Heisman Trophy after it had been stolen from campus more than 20 YEARS ago!

We broke the story ... cops had recently got a warrant to search phone records of a man they believe swiped the statue from Heritage Hall back in 1994 ... and clearly, they were on to something.

The bad news -- the LAPD has not announced that a suspect is in custody ... and they're still on the hunt for a game worn O.J. Simpson jersey that was also taken in the heist.