The avenue giving way to Atletico Madrid's new stadium will be named after former Spain coach and club figure Luis Aragones, who died this month.
Atletico says Madrid Mayor Ana Botella made the announcement on Wednesday as the team visited La Peneita, the Olympic stadium site. The Spanish league club is expected to move away from the Vicente Calderon by the 2016-17 season.
Aragones enjoyed a successful playing career at Atletico, a club which he also coached on five occasions.
Aragones led Spain to victory in the 2008 European Championship, a breakthrough success as it went on to win the World Cup and successfully defend its European crown in 2012.
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