The acclaimed writer will also be depicted on a series of limited edition membership cards issued by Cleveland Public Library.
Pekar's widow Joyce Brabner raised $38,356 in funding through crowd-.sourcing platform Kickstarter to have the statue built.
Sculptor Justin Coultor created the design based on drawings by Pekar's collaborator JT Waldman, who illustrated his posthumous work Not the Israel My parents Promised Me.
The illustration on the limited edition library card is based on artwork from another posthumous book Harvey Pekar's Cleveland, illustrated by Joe Remnant.
"We loved the drawing of the main library with Harvey walking in," library manager Anastasia Diamond-Ortiz told Publishers Weekly. "So we bought the original art from Joe Remnant and now the framed artwork will also be on display in the main library.
"Harvey was a lover of libraries and we loved him."
Pekar passed away in 2010 at the age of 70.