The artwork is located on the Shaftesbury Memorial Fountain and features winged sculptures inspired by Anteros, the Greek god of requited love, who is believed to be the figure that crowns the fountain.
Multi-disciplinary artist and designer Ilori, the co-designer of the 2021 Brit Awards trophies, has called it Good Things Come To Those Who Wait.
The installation includes Pegasus figures perched on bright orange and yellow plinths alongside inspiring messages.
The plinths wrap around the fountain, which was erected in the late 19th century in memory of Anthony Ashley Cooper, 7th Earl of Shaftesbury, a politician and philanthropist.
British-Nigerian artist Ilori is a graduate of London Metropolitan University and his work has been showcased globally through solo and group exhibitions, public commissions, and set and exhibition design.
In 2022 he created a community playground in Parsloes Park, Dagenham, which made use of vibrant colours and geometric patterns.
His new artwork, unveiled by Art of London, will be located in Piccadilly Circus from August 20 to 25.