The 44-year-old has already posed in Mumbai for sculptors from the musuem and is expected to unveil her likeness in London in March, according the website of the famed wax musuem. It will cost 150, 000 pounds to create and will take a team of sculptors, hair, makeup and wardrobe experts four months to create.
"The decision to include Madhuri is set to delight Bollywood fans around the world as we are constantly inundated with requests to feature Madhuri. Her figure will make a stunning new addition to our Bollywood area which continues to grow in popularity every year, " read the statement.
"With so many awards to her name and a career spanning over 25 years she undoubtedly deserves her place here and we expect huge interest in the figure when she takes up residence next year!" the statement further added.
Madhuri is remembered for her performances in "Tezaab", "Ram Lakhan", "Sajan", "Beta", "Dil", "Hum Aapke Hain Koun!", "Dil Toh Pagal Hai" and "Devdas". She tied the knot in 2002 with Shriram Madhav Nene, a doctor based out in Denver, US. Post-marriage, Madhuri featured worked in "Aaja Nachle" because she got busy with family and children.
But now she is in Mumbai for good, and excited about the idea of being waxed!
"I am really thrilled I am going to be included at Madame Tussauds. It's a real mark of achievement and to be recognised for one's art and work. It's also wonderful to be following in the footsteps of other Bollywood stars and some of my personal heroes!" said Madhuri in the statement.
To ensure authenticity, Madhuri will be closely involved in the creation process, collaborating with the Madame Tussauds team to agree the pose and even donating a Manish Malhotra sari for her figure to wear. Her hair will flow loosely over her shoulders, styled to show off her long tresses to full effect.
Madhuri's wax figure will join those of five big names from Indian cinema - Shah Rukh Khan, Aishwarya Rai, Hrithik Roshan, Salman Khan and Amitabh Bachchan.