Sir Alex, who retired in May after 26 years in charge, will be formally given the freedom of the borough at a council meeting on 14 October.
Sir Alex, who is only the third person to receive the honour from Trafford Council, said it was "truly humbling".
Waters Reach, a road near Old Trafford, will be renamed Sir Alex Ferguson Way.
Council leader Matt Colledge said it was a "fitting tribute" to the manager who led Manchester United to 38 trophies, including 13 Premier League titles.
Sir Alex said: "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, the road to be renamed Sir Alex Ferguson Way, leads from Old Trafford stadium towards the Manchester Ship Canal.
Another road near the ground already bears the name of Sir Matt Busby, the legendary manager who led United to their first European Cup win in 1968.
Mr Colledge 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 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."
Trafford Council said the honorary freedom award is the highest honour the authority can bestow.
Section 249 of the Local Government Act 1972 allows for "honorary freemen or honorary freewomen" status to be given to persons of distinction and persons who have rendered eminent services to the borough.
0 comments: