"I'm very proud and honoured to be stood here with this statue. When I come down this road seeing it will make me immensely proud. It is here because I enjoyed playing football." The BBC pundit said during the ceremony.
Newcastle manager Rafael Benitez who was absent at the occasion hailed club legend as, "an incredible player, the perfect number nine, and he had a fantastic career representing this great club. He is also a great ambassador for Newcastle with the charity work he does to support the people of the city.
"The statue of him at St James' Park is a perfect tribute to a true club legend and I send Alan my very best wishes for a memorable day."
Shearer scored 148 goals in 303 games for Newcastle - although won no trophy with the club.