The former top-flight club, now playing in the fourth tier, said the 10,000 capacity of their 110-year-old Kenilworth Road ground represented the amount of men who die of prostate cancer each year in Britain.
The name change will take effect for the match against Wycombe Wanderers on Tuesday.
"We are extremely proud to be the first club to partner with a charity such as Prostate Cancer UK by renaming our stadium, albeit temporarily," chief executive Gary Sweet told Luton's website.
It is the first time an English stadium has been named after a charity.
Luton are in the promotion playoff places, occupying sixth position in the table, 12 points behind leaders Burton Albion.
(Reporting by Martyn Herman, editing by Tony Jimenez)
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