Morneau will officially be inducted into the Twins Hall of Fame in an on-field ceremony before the club's home game against the Chicago White Sox on May 23. He will become the 34th member of the Twins Hall of Fame.
Morneau joins Kent Hrbek as the only first basemen in franchise history to earn the honor.
"The Minnesota Twins are thrilled with the election of Justin Morneau to the Twins Hall of Fame," Twins president Dave St. Peter said in a statement. "Justin's brilliant career -- defined by an American League Most Valuable Player Award as well as his leadership role on the field and in the community -- makes him one of the greatest players of his generation.
"His impact on the Twins organization and Twins Territory in general is significant."
Morneau, a four-time All-Star choice and 2006 AL MVP, was selected by the Twins in the third round of the 1999 MLB Draft. He played with the club from 2003-13 and emerged as a key member in the Twins' lineup alongside star catcher Joe Mauer.
Morneau ranks second in Twins history in games played at first base (1,124) and finished fourth in home runs, fifth in slugging percentage and 10th in RBIs.
"I think this is the ultimate honor for a player," Morneau said. "To come through and be drafted by this organization -- I remember the day I came and hit was about a week after the draft, and Corey Koskie kind of took me under his wing. I took some batting practice in the Metrodome.
"On that day, I couldn't imagine a day like this, to be inducted among the greatest players in franchise history."