The new sculpture is called The Spirit of the Child in the Park and takes the shape of a spiral.
Doubleday, 78, who lives near Maldon, said he had been working on the 6ft (1.8m) statue since July, which is made out of fondu cement.
“It’s very different, it is a different material,” he explained.
“The problem with the first one, being in bronze, it was a target for theft.”
Doubleday’s works include sculptures of Nelson Mandela, Winston Churchill and one of Charlie Chaplin in Leicester Square.
He said he wanted to create the new artwork for Billericay out of “stubbornness and a refusal to give in to the more negative aspects of people’s behaviour”.
“Sculpture is a personal view that you hope will mean something to other people,” he continued.