The statue was built following the order of Phra Kru Vibul Arjarakhun, the first abbot of Wat Muang temple, in order to commemorate the King Bhumibol of Thailand.

The statue was built using the donated money from faithful Buddhists considering as the act of making merit.

Nearby are more sculptures which depict the gods, the kings of Thailand and the events of the Siamo-Burma War.

The statue's formal name, Phra Phuttha Mahanawamintra Sakayamunee Sri Visejchaicharn (Thai: พระพุทธมหานวมินทรศากยมุนีศรีวิเศษชัยชาญ), was given by Phra Khru Vibul Arjarakun, and means "the Lord Buddha of Wiset Chai Chan, Built in Honor of King Bhumibol."

The name is a blend of Sanskrit words: Phra Phuttha (lit.