Many fans turned up early ahead of this afternoon's crucial game with Manchester City to witness the revealing of the bronze statue that depicts Robson with one foot resting on a football, amid chants of "One Sir Bobby Robson".
Newcastle managing director Derek Llambias said: "There are only a handful of names in the history of NUFC who command the respect Sir Bobby did.
"He is a Geordie icon."
Robson's wife Lady Elsie was presented with flowers by Pardew and she said that Sir Bobby would have been thrilled to see the Magpies in such a lofty Premier League position.
Robson also has a statue at Portman Road, the home ground of Ipswich Town, where he managed for 13 years, winning the FA and UEFA Cups in the club's most successful period.