Former owner Mohamed Al Fayed installed the tribute to his late friend behind Craven Cottage's Hammersmith Stand in 2011 but has now been reunited with it after selling the club.
The former owner installed the controversial tribute to his deceased friend in 2011, claiming Jackson had been a fan of the Cottagers after attending a match in 1999, and told any fans to "go to hell" if they did not like it.
However, after selling the club to American billionaire Shahid Khan for 150 million pounds, the 84-year-old now intends to have the statue relocated from behind the Hammersmith Stand to one of this other properties.
"The statue is not part of the Riverside development of the stadium and will be returned to the former chairman in due course," a Fulham spokesperson said.
Having previously threatened to cut off Khan’s moustache should the statue be removed, Al Fayed’s change of heart will allow the club to proceed with any future redevelopment plans.