Madame Tussauds are making a new waxwork of the Queen to celebrate the Diamond Jubilee.

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Artists at the famous waxwork gallery on Baker Street are creating the new model of Her Majesty, based on her official Diamond Jubilee portrait, which was taken by photographer John Swannell in the Centre Room in Buckingham Palace in December 2011.

Swannell – who also photographed Prince Philip – said at the time: “This is the third time I’ve had the pleasure of photographing her majesty, and I always find these events very exciting.

“The queen and Prince Philip, I thought, were patient and very relaxed on the day, which I hope is reflected in the photographs.”

The waxwork based on the portrait will cost around £150,000 to produce and will be on show to visitors to the museum from May, ahead of official celebrations in June.

It will be the 23rd made of the queen, who first appeared at Madame Tussauds in wax form aged two in 1928.

The statue will replace the last one created of the Queen in 2002, for her Golden Jubilee celebrations.

Waxworks of the royal family are some of the most popular in the exhibition, and new statues of Prince William and Duchess Catherine are set to be unveiled next Wednesday (04.04.12).