The Antiquities Ministry says Sunday the sphinx made of sandstone was found in the Temple of Kom Ombo during work to protect the site from groundwater.
Mostafa Waziri, secretary general of the Supreme Council of Antiquities says the statue probably dates back to the Ptolemaic time.
The Ptolemaic Dynasty ruled Egypt for some 300 years — from around 320 B.C. to about 30 B.C.
Egypt hopes such discoveries will spur tourism, partially driven by antiquities sightseeing, which was hit hard by political turmoil following the 2011 uprising.