The 'We Found Love' star will sit centre stage in the Music Zone of Madame Tussauds, alongside stars including Lady GaGa, Britney Spears, Leona Lewis and the late Amy Winehouse.
The model captures the Bajan star during her duet with Matt Cardle on last year's X Factor final.
"We are thrilled to welcome Rihanna to Madame Tussauds London," a spokeswoman said. "Her inclusion couldn't be more timely as her 'Loud' tour arrives in the Capital this week.
"We are sure she will hit the right note with our guests as demand for her figure has been huge since her appearance on The X Factor 2010.
"Rihanna is one of the biggest music stars of the moment and is a perfect addition to the 'diva dream team' of female artists we have here at the attraction."
The unveiling of the £150,000 ($232,000) statue, which took four months to complete, comes as the singer prepares to bring her 'Loud' tour to London on Wednesday.
Rihanna hit the headlines last week, when a Northern Irish farmer asked her to cover up as she filmed her new video on his land.
> Rihanna fans bombard Northern Irish farmer with hate mail
> Rihanna 'We Found Love' cover enters iTunes chart
Watch the video for Rihanna's 'Man Down' below: