Liverpool are retiring the number 20 shirt in honour of Diogo Jota - the first time the club has made such a gesture.
The Premier League champions said it was a reflection of the Portuguese forward's contribution to the club and the impact he had on teammates and supporters.
The club said it was a "unique tribute to a uniquely wonderful person" and the decision was made in consultation with his wife and family.
The number 20 will be permanently retired at all levels, including the men's and women's first teams and academy squads.
The club said: "It was the number he wore with pride and distinction, leading us to countless victories in the process - and Diogo Jota will forever be Liverpool Football Club's number 20."
Newly-married Jota died alongside his brother, Andre, when his Lamborghini crashed in northern Spain on 3 July.
Police said this week that all the evidence so far suggests Jota was the one driving the vehicle.
Liverpool teammates joined members of Jota's family, including his wife Rute, at a huge memorial site outside Anfield on Friday.
The star's funeral took place last weekend, with Liverpool colleagues and members of the Portuguese national team in attendance.
Reds captain Virgil van Dijk carried a shirt bearing the number 20 made from flowers.
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