Bergkamp will join the exclusive trio ahead of Arsenal's home tie against Sunderland on Saturday, February 22.
The statue of the Non-flying Dutchman will sit above Arsenal's main megastore The Armoury.
Along with winning three Premier League titles, four FA Cups and going an entire season unbeaten, Bergkamp also scored 120 goals for the club and remains a club legend.
Now coaching at Ajax alongside Frank de Boer, Bergkamp has been tipped for a future role at the Emirates, although a managerial position seems unlikely due to his fear of flying.
Several images of the potential statue have been linked online, with the statue depicting Bergkamp controlling an arial ball.