On Friday politicians and special guests will lay their eyes on Sir Russell Drysdale's 1949 piece Crooked Mile as it travels to the town as a part of a commemoration ceremony to honour the artist.

After months of planning and preparation, the artist will be honoured by the town with a 2.4 metre bronze statue to be located outside the Tattersall Hotel on the corner of Main Street and Monash Streets.

The street corner is where the artist sketched his painting, which has since been valued at $2 million.

The statue unveiling will attract a crowd of guests including Member for Riverina Michael McCormack, Member for Murrumbidgee Adrian Piccoli and NSW Tourism minister George Souris.

Sir Russell's daughter Lynn Clarke will also be present and will give a speech.

The painting will journey to the town after its owner Reg Grundy, a pioneering Australian television producer, generously allowed for it to be a part of the ceremony.

Mr McCormack said there was no better place for Sir Russell to be honoured than in West Wyalong.

"He was an iconic Australian painter and whether it was West Wyalong work or the beautiful painting of cricketers in the backyard, he really captured the moment," he said.

Bland Shire Council general manager Ray Smith said the event was important to the town in acknowledging its history.

The project was made possible through the donation of $14,000 by Cowal Gold Mine company Barrick.

What: Unveiling of the Sir Russell Drysdale statue

When: Noon on Friday

Where: Outside the Tattersall Hotel, West Wyalong