The actress will reportedly join Amitabh Bachchan, Aishwarya Rai Bachchan, Shah Rukh Khan, Salman Khan, Hrithik Roshan, Kareena Kapoor and Madhuri Dixit in being immortalised in wax.
"Sridevi is a fabulous actor and should have been at Tussauds ten years ago," said Hindi cinema fan Shashi Bhushan.
The star of Tamil, Telugu, Hindi, Malayalam and Kannada film is making her Bollywood comeback with English Vinglish, following a 14-year hiatus.
Sridevi plays a woman who has problems understanding English when she arrives in the US, and consequently decides to enrol at a language school.
In a tribute to the star, Mumbai actor Shivam Singh pays homage to her role in the Gauri Shinde-directed project with his video My English Vinglish Thoda Weak.
"She is the one and only actor whom I admire from my heart," Singh explained. "I was excited about her comeback in English Vinglish, and also because I can relate to the story of the film.
"It's very difficult for a person who does not know English, and I have come across many people in the same situation as Sridevi's character in the movie, which is why I devised this monologue."
English Vinglish is scheduled to release October 5.
Watch My English Vinglish Thoda Weak below: