The Dutchman is set to become the fourth person to be commemorated outside the stadium, following Herbert Chapman, Tony Adams and Thierry Henry.
"He deserves that statue," the manager told Arsenal Player. "I'm very happy for Dennis that he gets it. He has what we want to have at the Club: dedication, huge desire to win, and a touch of class as well.
"I believe that every single supporter who thinks about Dennis, speaks about class. He was completely dedicated to the Club. You'd never hear Dennis say 'I want to go somewhere else'. You would never question his dedication in a training session.
"Every day, until the last day of his career, he had the complete 100 per cent focus on every movement he made."