Organisers behind the tribute said the 10ft bronze would be installed in New Square, West Bromwich, on May 22.
The Celebration Statue, depicting club legends Laurie Cunningham, Cyrille Regis and Brendon Batson, has been years in the making and will finally be unveiled after a huge fundraising effort.
There had been doubts about whether the statue would ever come the fruition but a breakthrough came last year when the Professional Footballers' Association donated £38,000 needed to complete it.
Jim Cadman, who has led the campaign for the Celebration Statue, said: “Cyrille, Laurie and Brendon were true pioneers of the game who made genuine football history in West Bromwich.
"The Celebration Statue will convey passion, strength and achievement to a global football audience and support the fight to remove all aspects of racism from our beautiful game.”
The statue had been due to be revealed in March but Mr Cadman said "modifications" had caused a delay.
