Osiris is an ancient Egyptian god, identified as the god of the afterlife, the underworld, and rebirth.
Mostafa Waziri, secretary-general, Supreme Council of Antiquities, said the statue was found in a small incision between the pyramid's huge blocks.
Sabry Farag, head, archaeological site, Saqqara, said the statue is expected to date back to the Late Period of ancient Egypt.
The Late Period of ancient Egypt refers to the last appearance of native Egyptian rulers after the Third Intermediate Period from the 26th Saite Dynasty in 664 BC through a series of Persian and Macedonian-Greek conquests that ended with the death of Alexander the Great in 323 BC.