The Freeman Flyer statue now features in the grounds of Bridgnorth Castle as part of the two-mile route, which takes participants on a scenic trail through some of the town's most idyllic spots.
Sponsored by the Guild of Bridgnorth Freemen and created by Bridgnorth artist Amy Higgins, the latest addition features a locomotive depicting members of the guild.
It is now the 13th statue part of the activity.
It also means trail participants will have a new anagram to work out along the way to be in with a chance of winning the event's bi-yearly prize.
With help from Norton-based firm, SAMCO, Bridgnorth Town Council and Severn Valley Railway (SVR) volunteers installed the statue plinth in the castle grounds after requesting special permission before the statue itself was officially unveiled at the weekend.
It comes as new maps which have been printed will lead walkers along the updated route.
Chairman of the art trail, Councillor Julia Buckley, thanked those who had contributed towards the activity revamp.
Councillor Buckley added: "We are delighted to have revamped our trail. We've got revised maps which are available free from the Visitor Centre or most of our cafes and shops in the town centre, as well as online of course.
"We have also revamped our anagram with the extra letter – so even if you have already done the trail, now is the perfect time for a new visit to see if you can crack the code."
Free trail maps can be collected from various shops and cafes in the town, as well as at the library and visitor information centre, or accessed via bridgnorth-art-trail.org.uk