Fans raised the £60,000 to pay for the image of their hero in a typical pose with hands clasped above his head.
The 8ft (2.4m) statue was unveiled near Nottingham's old Market Square at 1300 GMT by his widow Barbara.
The statue, designed by sculptor Les Johnson, stands at the junction of King and Queen streets.


The Clough family pose with the new bronze statue of Sir Brian Clough after its unveiling today

Speaking before the ceremony Barbara Clough said: "All we can think is how amazed Brian would be at the very idea of a statue.
"He really would, he would never believe it. It's just wonderful, it really is. It's a lasting memorial isn't it?"
His son Nigel Clough, who played under his father at Forest and is now Burton Albion manager, added: "It's a lovely monument and testament but it does bring back memories - some happy, some not so happy.
"It is an honour and if you look around the country there are not too many statues of people so he must have been doing something right."


Hundreds of fans and well-wishers turned up to witness the unveiling this afternoon

Photographs by Ian Copping / Kev Lockhart

Tags: Brian Clough, Statue