The Mehrangarh Museum Trust will unveil the horse-mounted statue atop the hill near the Mehrangarh Fort on May 12, the 554th foundation day of Jodhpur.
The city was founded by Rao Jodha in 1459 but there was no mark of his remembrance.
"This statue is made of 'ashtadhatu' (alloy of eight metals) with a cost of Rs 37 lakh, Rs 17 lakh of which came from public contribution," trust director Karni Singh Jasol said.
The statue made by Haridwar resident Fakirchand is 16 ft long, 5.6 feet wide and 15 feet high.
Main attractions of this year's celebrations will be a ghazal performance by brothers Ahmed Husain and Muhammad Husain, dance by Kathak exponent Prerna Shirmali and martial arts by artists from Purulia in West Bengal.