Hrbek, a native of Bloomington, played his entire 14-year career with the Twins from 1981-94. Hrbek, 51, won titles with the Twins in '87 and '91, and was also named an All-Star in '82.
Hrbek will be the eighth person associated with the Twins to have a statue outside of the stadium. The others are of Kirby Puckett, Rod Carew, Harmon Killebrew, Tony Oliva, former owner Calvin Griffith and former owner Carl Pohlad and his wife Eloise Pohlad.
St. Peter said a decision has not yet been finalized on what the Hrbek's pose will be in the statue.
Among other announcements during the luncheon, St. Peter said that the batter's eye in center field will remain unchanged from last year. The club removed spruce trees in center field before last season because of complaints that they were distracting.
Additionally, St. Peter confirmed the club placed a bid to host the 2014 All-Star Game at Target Field, but won't hear an official decision until April.
The Twins also placed a bid to host the 2013 Big Ten baseball championships at Target Field, and are also trying to host the NHL Winter Classic at some point in the coming years.