In a statement on Monday evening, the board confirmed that the fast bowler, who claimed 193 wickets for Bangladesh, will be honoured ahead of the second ODI of the Bangladesh–New Zealand series on Tuesday.
Rubel announced his retirement last Wednesday through a Facebook post, stating that he will now focus solely on domestic cricket.
The right-arm pacer last represented Bangladesh during the tour of New Zealand in April 2021 and has not featured in national colours since.
He has also been largely absent from competitive cricket in recent years, missing the latest edition of the Dhaka Premier League.
In his last notable domestic appearance, Rubel picked up eight wickets in six matches for Prime Bank Cricket Club in the previous DPL season.