Paterno's name was on an award given to the school's outstanding freshman male athlete from 1991 until this year, when it was presented without his name attached.
He was also inducted into Brown's Athletic Hall of Fame in 1977, but "In light of the outcome of the Sandusky trial and the Freeh Report, the University has been reviewing these tributes to take appropriate action," the statement said Tuesday.
Paterno, often referred to as "JoePa" during his long 61-year coaching career at Penn State University, died in January at the age of 85. He was head football coach for nearly 46 years and had 409 victories.
Notable deaths of 2014 [PHOTOS]
Man wanted for abduction of missing UVA student