Tebow will be recognized during the LSU-Florida game on Oct. 6. His name will be unveiled on a wall inside Ben Hill Griffin Stadium.
"I know in my heart that I truly couldn't have done it without amazing coaches and teammates who loved and sacrificed for each other so that we could accomplish our goals," Tebow said in a statement.
The display will now feature Tebow and the other five members of the program's ring of honor: linebacker Wilber Marshall, running back Emmitt Smith, 1966 Heisman winner and famed coach Steve Spurrier, 1996 Heisman winner Danny Wuerffel and defensive end Jack Youngblood.
Tebow went 35-6 in four seasons (2006-09) at Florida, finishing with an SEC-record 170.8 career pass efficiency rating. He left college with 28 school records, 14 conference marks and five NCAA records.