Liverpool have unveiled the Kenny Dalglish Stand at Anfield in honour of the former Reds player and manager.
The club's owners, Fenway Sports Group, have renamed the Centenary Stand after club legend Dalglish, who spent 20 years at Anfield as player and manager.
Dalglish signed for Liverpool in 1977 from Celtic for £440,000 before going on to make 515 appearances and scored 172 goals.
The Scotsman won a total of eight league titles, three European Cups, two FA Cups, five League Cups and one UEFA Super Cup in the Reds shirt.
The 66-year old enjoyed two separate spells as manager of his beloved club between 1985-91 and 2011-2012 where he helped guide them to three title wins, two FA Cups and a League Cup.
"I'm hugely honoured to be recognised by Liverpool in this way," said Dalglish at Friday's official unveiling.
"This is a club that means so much, not just to me, but to countless people who have contributed to it either through their ability as footballers, their passion as supporters or their commitment as owners and administrators.
"I just hope that the people sitting in the stand that bears my name derive as much enjoyment from watching Liverpool as I have had from playing for them."
The renaming ceremony took place on Friday and featured a number of former teammates and friends including Gerard Houllier, Gary McAllister, Chris Lawler, Alan Kennedy, Phil Neal, Terry McDermott, Robbie Fowler, Alan Hansen, Michael Owen and Steven Gerrard.
Former Manchester United manager Sir Alex Ferguson was also in attendance alongside Manchester United great Sir Bobby Charlton.
"If the people who matter think I've played some small part in the success that we have enjoyed over the years, that is an honour in itself because I am as aware as anyone that no individual has ever been or will ever be bigger than the club," Dalglish added.