The figure, which has been created with Moore wearing a vintage England kit and holding a replica of the Jules Rimet Cup, was unveiled at the home of Moore's former club West Ham United - the Boleyn Ground.
The decision to create a waxwork of Moore came after he received 90% of the votes in a London poll asking which footballing great should be honoured ahead of this summer's World Cup in Brazil.
Moore's daughter Roberta said: "I remember going to Madame Tussauds with my dad when I was a little girl for the unveiling of the original wax figure so this has brought back very fond memories.
"Madame Tussauds have really done an amazing job, the new figure really captures his smile which made me cry! I feel very proud."
Next month, the current crop of England players will begin their World Cup campaign against Italy on June 14.