The new statue will be called 'Knut - The Dreamer,' and was designed by artist Josef Tabachnyk.

Knut was raised by a keeper at Berlin Zoo in Germany after his mother rejected him. The polar bear quickly became famous, drawing crowds of visitors and boosting sales of polar bear toys.

But, as he grew into an adult bear, so grew fears that he wasn’t happy and was suffering from behavioural disorders.

He died froma brain seizure last year age four.

Knut was quite young to die because polar bears in captivity can live for up to 30 years.

The sculpture in the picture is only a plaster model of the statue. The final bronze sculpture, scheduled to be unveiled this summer, will be approximately one meter long.

Watch the video of baby Knut below…