Novel chemically modified electrodes (CMEs) based on azulene were prepared by electrooxidation of guaiazulene derivative 4-((5-isopropyl-3,8-dimethylazulen-1-yl)methylene)-2-phenyloxazol-5(4H)-one (G). G is based on guaiazulene non-alternating aromatic hydrocarbon exhibiting a less symmetrical structure compared to naphthalene skeletal derivative. Therefore, it can be used as a building block for the preparation of novel materials. To evaluate the chemical structure and surface images, the CMEs based on G (G-CMEs) were characterized by ferrocene redox probe, X-ray photon spectroscopy (XPS), and scanning electron microscopy (SEM). They were also tested for the analysis of synthetic samples of heavy metal (HM) ions. The influence of preparation conditions (electric charge and potential) on the properties of these CMEs was examined. This paper highlights the importance of electropolymerization conditions on electrodeposited film surfaces, especially on their analytical properties vs. Cd(II), Pb(II), Cu(II), and Hg(II) investigated ions. This study is relevant for further design and development of advanced materials based on azulenyl-phenyloxazolone for the HM analysis in water. A linear dependence of the peak currents for Pb(II) ion on the concentration in test aqueous solutions was obtained between 10−7 M and 5·10−5 M. The detection limits of 5·10−6 M; 10−7 M; 5·10−6 M; and 10−5 M were estimated for Cd(II), Pb(II), Cu(II), and Hg(II), respectively, for G-CMEs.