The nine-foot-tall, one-tonne sculpture was unveiled by the Detroit River by the Satanic Temple group just before midnight, while a small group of local Christians protested in the city. It shows the horned and hooved goat-like features of Baphomet being adored by two young children.
Reuters reports that at the moment of unveiling, supporters cheered "hail Satan".
Before you reach for your handy exorcism kit, however, everything may not be as it appears.
The Satanic Temple group says its mission is to "facilitate the communication and mobilization of politically aware Satanists, secularists, and advocates for individual liberty."
Its campaigned include women's' reproductive rights, protesting against ultra-conservative Westboro Baptist Church, and - as in the case of the statue of Baphomet - protesting the use of religious imagery on Government property.
And, as they spell out clearly on their website: "we do not promote a belief in a personal Satan" but use the name "to embrace rational inquiry removed from supernaturalism and archaic tradition-based superstitions."
The statue was originally planned to be placed near a monument of the ten commandments in Oklahoma - but the plan was changed after that state's Supreme Court said the use of state property to promote the Christian faith was unconstitutional.
In Detroit, the group had to keep the location of the statue's unveiling a secret to be emailed to ticket-holders, after receiving threats from those claiming to be part of Christian groups.
Local Bishop Corletta Vaughn was among the protesters, and told the Detroit Free Press: "I'm here to stand against this being in the City of Detroit. We will not turn over our city to Satanists. It's a violent spirit that's moving to the city and infiltrating that place. We will drive them out of Dodge."