The statue of King Neptune at Neptune Park was the result of a collaborative effort initiated and coordinated by the Virginia Beach Neptune Festival. The Festival conceived the idea of erecting such a statue and commissioned the celebrated Richmond sculptor, Paul DiPasquale, to design and create this massive piece of public art. It was funded entirely by private monies raised within the Neptune Festival family and used no public or publicly solicited funding. Working with Mr. DiPasquale and Mr. James Xu of Evergreen Enterprises, a Richmond business, the statue was dedicated to the City of Virginia Beach in September during the 2005 Neptune Festival; it now graces the boardwalk at 31st Street & Atlantic Avenue, overlooking Neptune Park.

"King Neptune: The Making of the Myth", a documentary about the creation of the statue, was produced by Paul Michels of Coastal Training Technologies Corporation and is the property of the Virginia Beach Neptune Festival.