Sovereign of the Seas allows subscribers to build their own replica warship by providing parts and instructions across 135 issues.
The original ship from 1637 took 22 months to build, while the magazine version will take two years and seven months to complete, reports The Daily Telegraph.
Readers will have to pay £804.65 to buy every single magazine.
Pressure group Consumer Focus warned readers to be aware of the overall costs before subscribing to the magazine.
"The cost of these magazines can really mount up," said a spokesperson. "Publishers need to be upfront from the start about the number of issues people will have to buy, so the total cost is clear.
"We'd also urge consumers to go in with their eyes open and always read the small print.
"Before taking on a long-running subscription to make a ship or anything else, people should work out the final cost and decide whether they feel that is worth paying."
King Charles I commissioned the original ship, which took nine months less to build than the new 110cm-long model.
The magazine's website reads: "HMS Sovereign of the Seas is a new magazine that comes complete with all the parts to build a stunning model of the most powerful warship of the 17th century.
"Launched in 1637, and also known as the infamous 'Golden Devil', HMS Sovereign of the Seas was the largest vessel of her time.
"Issue by issue discover the history and techniques of ship building and ship modelling, and experience for yourself the pure pleasure of building such a magnificent ship."
Models ship enthusiast Rashid Lalloo explained that one can buy a similar ready-built model for a smaller price of around £300.
He said: "I imagine people will grow frustrated waiting so long to collect the parts and build it.
"Enthusiasts can buy a complete Sovereign of the Seas kit from a shop and complete it in a few months.
"And even with them, I see people getting bored and abandoning their project when they have only completed the hull."
A spokesman for the magazine's firm De Agostini, said: "This type of partwork provides for a niche modelling audience a very high quality model in easy-to-manage parts.
"It is a tried and tested formula much appreciated by our loyal modelling fans and allows De Agostini to create and develop beautiful ships to a degree of detail and scale that is not normally available in the high street."