O'Brien took over as the host of NBC's "The Tonight Show" this year.
The statue of him was unveiled Thursday and is now a permanent feature at the theme park's "NBC Universal Experience" attraction.
"The new Conan O'Brien wax figure, an extraordinarily detailed likeness of the late-night TV star, is the first Madame Tussauds wax figure to be permanently displayed outside of one of Madame Tussauds' nine museums. Universal Studios Hollywood guests will be offered the opportunity to sit on a replica of 'The Tonight Show's' signature set and have their photographs taken with 'Conan' as if they were 'The Tonight Show' guests," Universal said in a news release.
The company said Madame Tussauds statues cost an estimated $300,000 apiece.