Tebow, who helped the Gators win national championships in 2006 and 2008, will see his name alongside Wilber Marshall, Emmitt Smith, Steve Spurrier, Danny Wuerffel, and Jack Youngblood in the north end zone of Ben Hill Griffin Stadium.
"I am so humbled and thankful to be able to receive this blessing, being inducted into the Ring of Honor," Tebow said in a statement. "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.
"Loving Florida wasn't just something I did for four years, but it has been a lifelong passion. I want to thank the University of Florida and all the fans for making Gator Nation so special. I was born a Gator, I played as a Gator, and I'll always be a Gator!"
Known for his passion and generosity on and off the field, Tebow grew into a cult hero of sorts over his four years in Gainesville. He became the first sophomore to capture the Heisman Trophy in 2007.
The Gators went 35-6 in games Tebow started. The 30-year-old, who's now playing professional baseball in the New York Mets system, holds 28 school records.