The stamp, issued on Munro's 84th birthday, combines a black-and-white photograph of the author taken by her daughter, a sample of her handwriting, and an image of her hometown Wingham, in Ontario province.
Many believe that Wingham inspired the rural settings of several of her stories.
"Alice Munro is not only one of Canada's most critically acclaimed writers but also one of the most popular," said Canada's transport minister Lisa Raitt, who oversees Canada Post.
The Nobel committee hailed her as the "master of the contemporary short story."
"Munro's literary talent, wisdom and humanity, reflected in her stories over several decades, have earned her recognition that few writers in any language or country attain," said Canada Post President and CEO Deepak Chopra.