The sculpture, known as Receiver, was created by Huma Bhabha, and is the artist's first installation in the UK.
It will remain on display outside County Hall for 100 days, as part of the Yorkshire Sculpture International, a free 100 day festival taking place across Wakefield and Leeds this summer.
The project aims to build on Yorkshire’s rich history as the birthplace of pioneering sculptors, and has been backed by Wakefield Council, Wakefield College, Arts Council England and Leeds 2023.
Jane Bhoyroo, Producer of Yorkshire Sculpture International, said: "This is a really exciting day because we've been working for two years to make this happen.
"It's really brilliant to work with Wakefield college. The students have been involved, we've taken them to all of the galleries.
"Huma Bhabha works a lot in everyday materials like styrofoam and cork. (The Receiver sculpture) looks like styrofoam but it's actually been cast in brass.
"She's got many difference influences, she's interested in comic books, horror movies, science fiction. She's also interested in history of art and sculpture, and she's mixing all of those different references to create something really unique.
"I think this new sculpture commission for Wakefield by one of today’s leading artists will be a talking point and inspirational, and an amazing addition to the city centre for the next three months."
As part of the sculpture process, Bhabha visited Wakefield, and selected the site of the sculpture herself.
She said: “I hope visitors have as much enjoyment seeing this sculpture as I had creating it. Like all my work it is intense, but not unsettling.
"I feel my work is actually quite comforting and friendly. It’s great to be part of Yorkshire Sculpture International’s first edition.
"Sculpture should challenge and also be available to all with art outdoors in the public realm making an important contribution to this debate. I hope people in Wakefield and beyond enjoy my new work in Wakefield’s civic quarter.”
Receiver will be welcomed to the city on Sunday, June 23 with a street party featuring food, music and sculpture workshops.
The sculpture will remain on display outside County Hall, on the corner of Bond Street and Cliff Parade, for 100 days, as Yorkshire Sculpture International takes place.
For more information on the festival, or to find out more, visit yorkshire-sculpture.org.