The late Shane Warne will be honoured at the Melbourne Cricket Ground, with the stadium's Great Southern Stand set to be renamed in tribute.

Warne was born in Melbourne and played for Victoria, with the MCG his home ground.

He took over 50 of his 708 Test wickets at the MCG and, in his memory, part of the stadium will be named after him.

On his last appearance for Australia in Melbourne, Warne took a five-for against England in the 2006 Boxing Day Test.

"I wanted to tell you all today that we will be renaming the Great Southern Stand, the S.K. Warne Stand and we will do that as soon as we possibly can," said Martin Pakula, the Victorian Minister for Tourism, Sport and Major Events.

"I can think of no finer tribute to the greatest cricketer this state has ever produced than to rename the stand the S.K. Warne Stand.

"No matter whatever happens to it in the future, if it is rebuilt or refurbished or renovated, it will remain the S.K. Warne Stand in perpetuity because his legend will live in perpetuity.

"He is the greatest cricketer that this state has ever produced. And it will be a long, long time before we see anyone near as good as him."

Warne's death has stunned the world of cricket, with tributes having poured in for the leg-spinner, who will go down as one of the sports' greatest players.