The cannon has been in the park for almost 100 years and has been restored several times in the past, most recently in 2007.

The latest restoration cost $11,500 and is thanks to a $9500 grant under the Federal Government's Armistice Centenary Grant Program, and $1000 each from Parkes Shire Council and the Parkes RSL Sub Branch.

The cannon was officially dedicated on Anzac Day by Parkes Mayor Ken Keith OAM and our guest of honour, Lieutenant Colonel Dave Heatley.

"It's had an interesting history and it is my great pleasure today to formally rededicate the gun in its new location and acknowledge the refurbishment including the fitting of two new wheels," Cr Keith said.

"It was reported in the Western Champion newspaper that the field gun allotted to Parkes as a war trophy was placed in Cooke Park on Thursday, October 29, 1920."

The 2.25 ton gun fired 6.85kg high explosive, shrapnel and gas shells to a range of about 9000 metres.

It has been painted its original mid grey colour and the new wooden wheels were crafted by wheelwright Mark Burton of Bywong.

Riverina MP Michael McCormack was in town earlier in the month to inspect the cannon.

"Well done to all concerned because we need to preserve these monuments and war trophies to remind us all how important Anzac is and how important service is," Mr McCormack said.

"Congratulations one and all."

Parkes RSL Sub Branch secretary/treasurer Paul Thomas said Mr McCormack was instrumental in gaining the grant money.

"I thank our member for his timely and generous support in gaining the necessary funds to complete the restoration," Mr Thomas said.

"I also thank the Parkes Shire Council for their valuable assistance and local sub branch member and councillor George Pratt for his many hours of valuable help and committment to the project."