Sir Alex Ferguson is to receive the Freedom of the Borough of Trafford in recognition for his extraordinary success as manager of Manchester United.
The Scot, who won 13 league titles and two Champions Leagues during his 26 years in charge, will also have a road near Old Trafford named after him.
Trafford Council will formally honour Ferguson, who also holds the Freedom of the City of Aberdeen because of his achievements in Scotland, on October 14.
Ferguson said on the club's official website: "I am delighted to accept this honour from Trafford Council. When I arrived at Old Trafford in 1986 I had little idea of the journey that awaited me. Over a quarter of a century later, to receive the Freedom of the Borough of Trafford and to have a part of Trafford carrying my name is truly humbling."
Waters Reach will become Sir Alex Ferguson Way as the 71-year-old, who also has a statue of him outside Old Trafford and a stand in it named after him, is recognised again.
The entrance to Old Trafford is on Sir Matt Busby Way, named after the first United manager to win the European Cup and be knighted.
Ferguson, who retired in May, won 38 trophies for United and local politicians believe he has helped raise the profile and boost the economy of the area.
Matt Colledge, the leader of Trafford Borough Council, said: "Sir Alex has contributed significantly to Trafford over a sustained period of time through his strong leadership of the Manchester United team and it was felt that the Honorary Freeman title and the renaming of the street was a fitting tribute to him.
"Football contributes significantly to the borough through the large number of visitors it attracts and jobs it creates. It has been through the success of the team that the club has grown in strength over the years, becoming one of the world's most successful and renowned clubs."