The $300,000 statue is modeled in the likeness of Foxx, who won an Oscar for his role in the 2004 bio-pic "Ray."
The museum said every figure on display is accompanied with a biography that acknowledges the significant contributions each has made to shape U.S. history.
"Jamie Foxx was a natural choice for us. He not only embodies the upper echelon of celebrity that we look to celebrate but what he represents to the black community, and Americans as a whole, is the ability to take born-talent, drive and commitment and transform them into something magical," Adrian Jones, general manager of Madame Tussauds Las Vegas, said in a statement.
Foxx participated in a two-hour private sitting in which Tussauds Studio artists from London took precise measurements and matched his eye, skin and hair coloring so they could capture his likeness in the statue.
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