The proposal from the Richard Harris Memorial Committee had been passed by Clare County Council last August.
Today the board rejected an appeal against that decision, subject to two conditions.
An Bord Pleanála said the proposed development would not impact upon the character of the architectural conservation area or of any protected structure.
It also said the statue would not detract from the visual amenities of the area or the residential amenities of adjoining properties and would be acceptable in terms of traffic safety and convenience.
