The last renovations were done in 1959, and after 45 years of exposure to the elements the wooden pillars were showing signs of serious damage. A major reconstruction began in April 2005. Six teak tree trunks were used. The two used for the main structure of the swing are over 3.5m in circumference and over 30m in height. The remaining four are used for support and are 2.30m in circumference and 20m in height. The swing was taken down in late October 2006 and the work finished late December of the same year. The rebuilt swing was dedicated in royal ceremonies presided over by His Majesty King Bhumibol Adulyadej in September 2007. The timbers of the original swing are preserved in the National Museum.
In 2005, the Giant Swing, together with Wat Suthat, was suggested as a future UNESCO World Heritage Site.