The Indian leader's new wax figure arrived at the Baker Street attraction fresh from Delhi, where Modi had a private viewing with his likeness last week.
The figure is featured in the famous attraction's popular "World Leaders" enclosure alongside present day leaders Barack Obama, David Cameron, Angela Merkel and Francoise Holland, as well as political heavyweights of the past including Mahatma Gandhi and Winston Churchill.
Modi was closely involved in the creation of his figure and was delighted with the final results, declaring that the Madame Tussauds team are "exceptional at what they do".
"It's wonderful that our visitors now have the chance to get up close to this influential leader, who is the source of so much public interest.
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"It's not every day you get to stand alongside the statesmen and women shaping our world and we think guests will relish the chance to rub shoulders with Mr Modi."
Modi's figure is dressed in his signature Kurta in cream with jacket and he is featured in a traditional pose making a namaste gesture.
Each figure took a team of talented artists four months and cost 150,000 pounds to create.