The new rocket pays homage to the original piece of playground equipment that was installed in the 1960s. It was then removed around 1995.

The new Red Rocket has been engineered to meet all current Australian standards for play equipment.

It measures 8.8 metres tall and weighs a whopping 1.8 tonnes.

The rocket features three levels for children to climb plus a slippery slide and speaker tubes connecting the top flight deck to the ground.

"The rocket brings back a lot of happy memories for anyone who grew up in Dubbo in the 70s and is a reminder of playing in the great outdoors before technology overtly influenced our lives," Dubbo acting mayor Stephen Lawrence said.

"I hope the rocket will encourage a return to some imaginative play for children in our community and I for one know my kids are extremely excited to visit the new red rocket."

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Council engaged local contractors Glenn Healey Constructions to install the concrete footings and Macquarie Electrical to install a surprise electrical feature.

Mid State Cranes assisted RKR Engineering to install the rocket in its new pride of place at Victoria Park.

The rocket was funded thanks to both Dubbo Regional Council and the federal government.

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