The producers of Khan's last movie, My Name Is Khan, have timed the DVD release of the film ahead of India's Independence Day, and the statue will reportedly be unveiled on the same day (Thursday).
At the New York branch of the wax museum, King Khan joins the likes of Mahatma Gandhi, Marilyn Monroe and Barack Obama.
To celebrate the release of the DVD and that of Khan's black-suited statue, which is likely to be exhibited in front of a replica of the Taj Mahal, a dance performance by Indian dancers has been scheduled.
The 45-year-old actor's statue was unveiled in January, earlier this year, at the Los Angeles branch of the museum.