Work has begun on Virginia Water War Memorial replacement and is expected to last for about eight weeks.
The new monument, previously honouring those who lost their lives in service during World War Two, will also feature the names of 59 people from the area who served and were killed during the First World War.
The British Legion has been consulted on the design and the work will be completed in time to commemorate the 100 years since The Great War ended in November.
The new monument, designed by Southern Landscape and Construction, will be in the memorial gardens in Station Road.
The open space will be completely renovated with a new access point off Christchurch Road.
Chris Hunt, head of community development at Runnymede Borough Council, said: "The landscaping will make the space much more welcoming while the memorial design will be use the existing World War Two stonework, which has been kept following the taking down of the original shelter.
"The names of all those from Virginia Water who served and were killed in World War One will also be added."
The build, which began on Wednesday 15 August, will also include seating, planting and a bronze plaque with a poppy.
Across the borough there will be a host of events to mark the 100th anniversary including the traditional ceremonies held at town war memorials.
Chertsey Museum is hosting a First World War Day on 29 September in Victory Park, Addlestone, giving people the opportunity to learn about how life for the British Tommy on the battlefields of Flanders.
The free family event runs from 11am to 3pm.
Remembrance Weekend events will be added to the Chertsey Museum diary http://chertseymuseum.org/events.