The club announced his No. 1 will be hung from the rafters on March 7 before a game against the Montreal Canadiens.
"Roberto is a cornerstone of Panthers history and an icon of the game," owner Vincent Viola said in a statement. "He has represented himself and the Panthers with tremendous dignity, determination and a standard of excellence throughout his career. Roberto exemplifies what it means to be a Florida Panther. His level of commitment to this franchise, his teammates, his family and the South Florida community is second to none. There is no player more deserving to be the first Florida Panther to have his jersey number retired."
Luongo also suited up for the New York Islanders and Vancouver Canucks in his career, but his 11 years with the Panthers, split between two stints, stand as his longest tenure. He's the club's all-time leader in games played for a goalie and also leads in wins (230) and shutouts (38).
"I want to thank the entire Panthers organization for this incredible recognition," Luongo said. "It's quite an honor to be the first player to have his number retired by the Panthers. I'm truly looking forward to sharing this special night with my friends, family, teammates and the Panthers fans."
The 40-year-old Montreal native announced his retirement in June after 19 NHL seasons. Luongo finished his career third on the all-time wins list (489) and second in games played (1,044).
While Luongo will be the first former Panthers player to see his number in the rafters, Wayne Gretzky's No. 99 was retired league-wide in 2000.