"It's 300 kilos that statue, it's pretty lifelike for when I played," Warne said after unveiling the statue.
"It's a great honour, it's a bit weird seeing yourself up there but, I'm very proud."
He remembered the days, like thousands of other Melbourne boys, of catching the train with his brother to watch the footy and cricket at the MCG.
But he also recounted feats that no-one else could perform at the MCG.
Warne rated his breakthrough 7-52 to beat the West Indies in 1992-93, his hat-trick against England in 1994 and his 700th Test wicket in the last of his 11 Tests at at the MCG in 2006 as his highlights at the ground he called his backyard.
And now a statue.
He joins fellow cricketing greats Don Bradman, Keith Miller, Bill Ponsford and Dennis Lillee, Olympic athletes Betty Cuthbert and Shirley Strickland and AFL footballers Haydn Bunton, Leigh Matthews, Ron Barassi and Dick Reynolds as statues at the ground.
Warne's is also the first statue to stand in the newly named Avenue of Legends which stretches from the MCC members gates to Jolimont Station.
AFL coaching legend Norm Smith will be the second Avenue of Legends statue, to be unveiled next year.
- AAP