Commissioner Joe Martinez told The Miami Herald that the move is a response to the former slugger's admissions that he used steroids during his career and profited from a tell-all book on the topic.
"It's the fact that he did it, and he lied for such a long time,'' said Martinez, a former police officer. "The book was just to make money."
Canseco, who couldn't immediately be reached for comment, was a high school star in Miami.
The Herald noted that an attempt to change the name of Jose Canseco Street in 2003 was blocked when Canseco's lawyer argued successfully that he hadn't been convicted of parole violation at that point.