Torres confirmed at a news conference on Monday that he will leave Atleti when the current campaign ends, bringing down the curtain on his second spell with the club.
The 34-year-old striker is a crowd hero on account of his 126 goals for the club but has only started three games in Spain's top flight this term.
Nevertheless, his send-off should be something to remember, according to club president Enrique Cerezo.
"Fernando Torres deserves the best of farewells as a player of Atletico Madrd and that is why I am sure that the fans will join us on such a special day," he said.
"We are already working to make it an unforgettable day for the Atletico family and especially for Fernando."
Pronto volveré a mi asiento, a vuestro lado, donde todo empezó. Y me sentaré a ver a mi Atleti, animando para que gane el partido... aunque en realidad el resultado sea lo de menos. #ForzaAtleti pic.twitter.com/qJtYz5Kom2— Fernando Torres (@Torres) April 9, 2018
Cerezo added: "He will always have the doors to Atletico Madrid open when he decides to finish his career as a football player."
Atleti are second in La Liga, four points ahead of Real Madrid in third after Sunday's 1-1 Derbi draw in LaLiga, and hold a 2-0 first-leg advantage over Sporting CP after the first leg of their Europa League quarter-final.