The image, entitled Balloon Girl, shows a young girl reaching for a heart-shaped balloon as it drifts away. It became famous in 2002 when it appeared on a wall in East London.
Bieber got the tattoo etched on his forearm at his recording studio on Thursday (13Mar14), but it appears the artist is not impressed.
Banksy posted a picture of Bieber's inking on his Instagram.com page and wrote the simple comment, "controversial", but the pop star's tattoo artist has responded, "We weren't after a carbon copy rip off. More subtle imagery."