The statue is positioned outside the Clock End and was unveiled in front of a crowd of Gooners and indeed the former Netherlands forward himself.
Bergkamp follows in the footsteps of other Arsenal legends such as former manager Herbert Chapman, captain Tony Adams and club-record goalscorer Thierry Henry.
I am just so honoured and today makes me very proud
The statue captures the moment Bergkamp pulled-off an amazing piece of skill against Newcastle in 2003.
Bergkamp said: “I am just so honoured and today makes me very proud. It is great to come back and see everyone at Arsenal again.
“Everyone knows I love Arsenal and I had such a great time at the Club. The fans, the staff and my team-mates were fantastic. The team was also amazing and we had a lot of success over the years. For me and my family it was such an important and enjoyable period in our lives.
“This is such a special moment to come back and be honoured in this way.”
Club director Ken Friar, who unveiled the statue, said: “Arsenal Football Club is proud that this statue of Dennis Bergkamp will be on display outside Emirates Stadium.
“Dennis contributed so much to the Club, while at the same time treating Arsenal fans to some of the most exciting football ever seen in this country.”
“This will now give Arsenal fans and visitors to the stadium an opportunity to remember this legend and pay their own tributes to this great man.
“This statue is immortalising a true fans’ favourite and celebrating the wonderful contribution of a simply unique footballer, whose skill and ability were an absolute joy to behold.”
Bergkamp joined Arsenal from Inter Milan in June 1995 and went on to play more than 400 games for the Gunners, scoring 120 goals.
He helped win seven major trophies with Arsene Wenger’s side, including the ‘Invincibles’ Premier League campaign of 2003/2004.