Liverpool's pre-season friendly against Preston will be played for a special Shankly Shield in honour of the man who was a legend to both clubs.
This September marks the 100th anniversary of the birth of the inspirational Reds manager, who also spent 16 years as a player at Preston.
To commemorate the landmark occasion, the winner of the game between the two teams on Saturday, July 13 at Deepdale, will lift the specially-designed Shankly Shield trophy.
Shanks arrived at Melwood in 1959 to take charge of a team languishing in the old Second Division, with a crumbling stadium and poor training facilities.
Slowly but surely, he began to move Liverpool forward. By the end of the 1961-62 season, the Reds gained promotion to the top division and in 1964, they were crowned English champions.
The man from Glenbuck oversaw more than 750 games as Reds boss and went on to add league titles in 1966 and 1973 to his collection.
He also won two FA Cups, four charity shields and the UEFA Cup in 1973 - the same season he was awarded manager of the year.
Prior to arriving at Anfield, however, Shankly racked up 340 league and cup appearances for Preston and a further 84 during the Second World War.
And so when the two sides meet in their forthcoming friendly, Shankly will be remembered by both sets of supporters.
After the match, his granddaughter, Karen Gill, will present the Shankly Shield to the winning captain.
"I am honoured to have been asked to attend the match between Preston and Liverpool to present the winning team with this special shield," said Karen.
"Both clubs were extremely close to my granddad's heart and I think this is a very appropriate way to mark his 100th birthday."
Liverpool manager, Brendan Rodgers, added: "The name Bill Shankly is synonymous with Liverpool Football Club and his spirit is always with us at Anfield.
"Our match at Preston is a truly fitting way to mark the 100th anniversary of the great man."
The Liverpool FC Foundation is also celebrating the anniversary with a special bike ride, in which fans and cycling enthusiasts can ride with Reds legend Robbie Fowler from Glasgow to Liverpool. For more information, click here.
The game against Preston, which kicks off at 3pm BST on July 13, will be shown live on LFC TV Online. You can sign up now from just £2.99 a month to watch the match and five more pre-season fixtures as Rodgers' side gear up for 2013-14.