The 1986 World Cup Winner has a cult following in India's second largest city with thousands of fans turning out to see the Argentina legend honoured.
The four metre high statue, which shows Maradona holding the World Cup trophy, bares little resemblance to the Argentinian football legend.
Online commenters have claimed the statue looks more like Boston Celtics NBA great Larry Bird, Television character Bobby Ewing from the show Dallas or even UK X-Factor winner Susan Boyle.
Maradona was in Kolkata for a charity event, nine years after making his first appearance in the capital of India’s West Bengal state and three months after he was due to visit again. His trip had been postponed several times.
"Thank you very much everybody for coming here. I don't think about myself as God of Football, but only as a simple footballer," he said.
"But I'm very happy to come here in Kolkata for the second time."
It was reported Maradona also handed out cheques to 11 cancer patients at the event and is expected to play in a charity football match later this week.