Chinese company InIcons and Dragon In Dreams have created a scale model of the late Apple co-founder wearing his trademark black turtleneck, jeans and glasses.
Priced at $99 (£64), the 12-inch action figure is to go on sale in February and InIcons is already taking pre-orders.
The company dedicated the figure "to the Genius, Great Inventor and Visionary: Steve Jobs", but Apple is likely to consult its lawyers over the toy.
In a statement issued to the Daily Mail, Apple said: "Mr Jobs has not consented to the use of his name and/or image in the product."
Should the figure go on sale, buyers will get: "One realistic head with two pairs of glasses, one body and three pairs of hands' plus a complete Steve Jobs outfit - poloneck, blue jeans and trainers."
They will also get one pair of black socks and trainers and one piece of "ONE MORE THING" hard backdrop. But Apple is likely to be concerned that the product comes with an Apple logo.
In 2010, Apple took legal action against a company called MIC Gadget after it attempted to sell Steve Jobs action figures on auction site eBay.
However, Dragon In Dream has previously been able to release unauthorised figures, including one depicting US President Barack Obama.
Jobs passed away in October last year of cancer, causing tributes to pour in to the man who brought the world the Mac, iPhone, iPod and iPad.
Walter Isaacson's official biography of Jobs was the biggest-selling book on Amazon last year, while Sony has picked up the rights to make a biopic of his life.
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