After the council proposed landscaping work at Islington Green, it became clear in 2004 that the old memorial needed to be replaced, and it was demolished in 2006.

A new memorial was completed in 2007, designed by artist John Maine [Wikidata].

His proposal for a twisted stone ring, reminiscent of a wreath, was accepted by a memorial commission, which included representatives from the local Royal British Legion, the Canonbury Society, and representatives from the council.

An inscription on a nearby slab repeats the words from the original memorial, "In Memory of the Fallen"; separate slabs bear the words "Land", "Sea", "Air" and "Home".

Remedial work was required in 2013 after the new memorial started to sink because its foundations were inadequate.