The model, dressed in a a red and black checked shirt and black jeans, was one of three Bieber replicas being unveiled -- the others were in Amsterdam and New York.
"It`s pretty incredible to see," said the 17-year-old, before joking about how small the waxwork was. "As you can see, you know, I`m at least six feet taller than this guy."
Liz Edwards, spokeswoman for the museum, said the real Bieber would naturally change quickly over the eight months it took to create the life-like model.
"So we really wanted to make sure we made a `moment in time` figure," she said. "But it`s the hair that everyone is paying the biggest attention to. So, I`d say it`s the hair that`s been the biggest challenge."
The singer, already one of the world`s biggest pop stars with albums "My World" and My World 2.0", was accompanied to the event by his mother, and he greeted a small crowd of fans.
He said that he would ideally like his waxwork figure to stand next to U.S. rapper Tupac Shakur.
"Biebermania" has hit Britain during his visit, with hundreds of screaming fans crowding outside his hotel in the northern city of Liverpool last week forcing police to close down the area.
Bieber has two more concerts in London before playing in several other British cities and then heading for mainland Europe. (*)
Editor: Aditia Maruli Radja
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