He said it was erected on the Village Green in March 2015 as a temporary installation to highlight the city's first Crankworx festival, but remained there due to popular demand.
The purpose-built 7m high galvanised steel frame, which was made for ChildFund NZ, cost the council $500 on Trade Me and the 150 or so old and broken bikes hanging from it were donated by the public.
Cycling advocate and Rotorua deputy mayor Dave Donaldson said he agreed the tree had seen better days, but wanted to consider any options available.
"We all know about the corrosive forces of nature at play in Rotorua and it's looking pretty sad during the day.
"But I'd still like to see some sort of symbol so people know they have arrived in a biking town.
"We could give it a refresh and the location is something we should also think about.
"We are world renowned for our cycling, but does our bike tree say that to you during the day?," Mr Donaldson said.