Slash is the iconic lead guitarist for the hard rock act Velvet Revolver and a former member of Guns N Roses.
The action figure based on him is expected to hit mass retailers in February 2009.
McFarlane Toys said its first line of "Guitar Hero" action figures is set for release next month and includes four of the game's most popular characters: Johnny Napalm, Axel Steel, Lars Umlaut and God of Rock.
The Slash figure will have more than 15 moving parts and will come with a unique, removable guitar that is interchangeable with the other "Guitar Hero" figures, as well as a sculpted "Guitar Hero" logo base.
McFarlane Toys' six-inch action figures retail for between $10 and $15.