The sculptor behind the popular Sir Tom Finney 'The Splash' statue is in talks to honour two more of the city's famous sons – Wallace and Gromit.
Peter Hodgkinson says he has held talks with the animated double act's creator Nick Park about becoming the man behind a statue of Wallace and Gromit in Preston.
Council bosses are now drawing up bids to find the cash to pay for the statue and talking to people about where it could go.
A redesign of an original idea has been drawn up – but is being kept under wraps.
Mr Hodgkinson, from Preston, said: "Nick wants it to happen, the council wants it to happen, it is just a case of getting the money to do it and deciding where to put it, I think.
"It would be fantastic to have Wallace and Gromit in Preston, they are real icons and I am sure people would love to see them here.
"I have spoken about it to people and I would absolutely love to be involved, but at the moment there is nothing official."
A council spokesman confirmed it is looking at several locations of "prominence and importance" for the statue, which is thought to include a bench, and confirmed the city's train station is being look at.
He said: "The designs for the statue have now been completed, we are now just looking at the best location and preparing bids to secure funding to pay for the statue."
He added there had been "a lot of expressions of interest" in bringing the statue to certain points around the city.
Virgin Trains, which runs Preston station which attracts more than one million visitors every year, said it was keen to bring the cartoon favourites to the terminal and was still in talks about it.
A Virgin Trains spokesman said: "It is the kind of thing we would love to be involved with and in principle we are very supportive of the idea, but there are issues such as the cost and the weight of the statue to be sorted out.
"We are still talking about these things, so it is not a done deal yet."
Last year, the Evening Post revealed how design experts had plans for a series of public art projects, including a statue dedicated to Star Wars actor Kenny Baker, who lives in Preston, and an artwork to Wild West outlaw Butch Cassidy, who had Preston roots.
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