The 7ft-high bronze figure was erected in May 2007 at Albert Park in the late manager's home town of Middlesbrough.
But park officials noticed a fatigue fracture on its right leg, which mirrored Clough's 1962 ligament injury.
Repairs to the statue are to be carried out by a specialist firm in Surrey at a cost of £19,000. The work is expected to take up to 10 weeks.
The statue, sculpted by Vivien Mallock, shows a 24-year-old Clough with his boots slung over his shoulder striding towards Ayresome Park, Middlesbrough's former ground, on his way to training.
He began his playing career at Middlesbrough, later playing for neighbouring Sunderland, and went on to score 251 goals in 274 games for the two North East clubs.
Later he led Derby County and Nottingham Forest to league championships and won two European Cups with the Nottingham club in 1979 and 1980.
The former player and manager, awarded an OBE in 1991, died of cancer in September 2004, aged 69.