Rehman said: “Following his passing, we wanted to ensure his legacy continues to be honoured in the heart of our town.
“That’s why we are renaming Believe Square, the home of Sir Billy’s statue, as Sir Billy Boston Square.”
She said it was a “fitting tribute to a remarkable man whose achievements broke barriers, inspired generations, and will never be forgotten”.
“Sir Billy’s legacy will live on in Wigan, forever,” she added.
Sir Billy reached the 100-try milestone in just 68 matches and claimed 478 tries in 488 games for Wigan, helping them win three Challenge Cups and the Championship.
He was picked for the 1954 Great Britain side and was the first black British player to tour Australia and New Zealand.
Wigan’s chief executive Kris Radlinski said: “For generations, people will pass though the [sqaure], children will walk with their families, people who never had the privilege to see Billy play will see his name and ask who he was, and another generation will tell his story.”