"My very own mini me!" Estefan posted on her Instagram, alongside a video introducing the doll.
The doll was released Thursday - the same day as the singer celebrates her 65th birthday.
Estefan called the doll: "The best birthday present ever!"
Mattel says the doll celebrates the 33rd anniversary of the Cuban-born singer's hit "Get on Your Feet." The doll even pays homage to the look she sported in the song's music video.
Estefan said she has fond memories of Barbie growing up, even creating outfits for the doll.
The two icons are about the same age. Barbie is just two years younger than the singer.