"To create the piece, I looked back to antiquity, when athletes were immortalised in sculptures as gods. And I combined some details from a Michelangelo statue with modern day graffiti to capture the present day's warrior sensibilities.
"People of our generation grew up on graffiti and hooliganism, so I've displayed part of his tattoos on his back in graffiti.
"I share his belief: 'Talent does not exist'. This is hard work and obsession."
The former two-weight champion McGregor has still not fought in the octagon since November 2016, but speculation of him returning against lightweight rival Khabib Nurmagomedov is intensifying.
The Irishman is currently training and has been stepping up his regime in preparation of an expected return to UFC later this year.
The other two identical sculptures of McGregor will be sold by JD Malat Gallery, where it will be on view to the public as part of their summer exhibition from July 14 until September 30.