The Australian Grand Prix winner's trophy will be renamed in honour of Formula One legend Sir Jack Brabham, who passed away last month, race organisers said Tuesday.
The "Sir Jack Brabham Trophy" will be awarded each year to the F1 driver who wins the Australian GP, the Australian Grand Prix Corporation said.
Brabham, who claimed three world drivers' titles and remains the only man to win the championship in a car he built himself, died on May 19 at the age of 88.
The Australian, acclaimed as one of the sport's most influential figures with the technological innovations brought about by the team he created helping shape Formula One, was also the first driver to be knighted for services to motorsport.
Sir Jack's wife, Lady Brabham, said the renaming of the trophy was a touching gesture.
"I have been overwhelmed by the tributes that have been pouring in from around the globe," she said in a statement.
"It has been comforting to hear kind words from the likes of Jean Todt, Sir Stirling Moss, Sir Jackie Stewart to Alan Jones. Jack would have been so very proud."
Australian Red Bull driver Daniel Ricciardo, who swept to his maiden victory at the Canadian Grand Prix at the weekend, said he was inspired by Brabham.
"What he achieved was incredible and I think paying tribute to him each year with the Australian Grand Prix winner's trophy is a fantastic way to celebrate this legend," Ricciardo said.
"It would be something very special to be able to lift that trophy."