The famed intensity of AFL legend Norm Smith has been immortalised in bronze outside the Melbourne Cricket Ground, the stadium he ran onto so often in his storied 37-year career as a player and coach.

The towering statue depicts Smith as coach, urging his players to victory.

It was unveiled outside the stadium on Monday by his son, Peter Smith.

An illustrious crowd of former players was on hand, including his former protege Ron Barassi.

Barassi, who played in two premierships under Smith at the Melbourne Demons, affectionately recalled his teenage years spent living in a bungalow behind Smith's home at Pascoe Vale in Melbourne's north.

"I had the best football upbringing of anyone, ever," he told the crowd.

Of the statue, Barassi said: "It really is a fantastic likeness, it's almost like a photo."

Smith won four premierships as a player before coaching the Demons to six premierships in an unprecedented run of success at the club.

Sculptor Lis Johnson said it had been difficult to capture the essence of a figure whose legend spanned almost 40 years.

"I aimed for the likeness from the photos, but also a kind of intensity," she said.

"At first we weren't sure if I'd got enough intensity or passion, or if it was quite severe enough."

Smith's statue is the second in the Avenue of Legends at the MCG after a bronze Shane Warne was unveiled last December.