The number will be retired during a homestand in which the Dodgers will host the Colorado Rockies at Dodger Stadium.
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On Friday morning at 10:30 a.m., Valenzuela will be at City Hall, where the Los Angeles City Council will issue a special proclamation and declare Aug. 11, 2023 as "Fernando Valenzuela Day" in the city.
The festivities will continue with a Ring of Honor ceremony on Friday night. A postgame drone show celebrating Valenzuela's career will also take place on Friday.
On Saturday, the first 40,000 ticketed fans will be treated to a collector's edition Valenzuela bobblehead and the Dodgers will give out a replica Fernando Valenzuela 1981 World Series ring prior to the 1:10 p.m. game on Sunday.
Valenzuela was a member of two World Series championship teams, won the 1981 Rookie of the Year and Cy Young Awards, was selected to six All-Star teams and even won two Silver Slugger Awards (1981, 1983) during his 11 years with the Dodgers from 1980-90.
"To be a part of the group that includes so many legends is a great honor," Valenzuela said when the planned retirement of his number was announced in February. "But also for the fans -- the support they've given me as a player and working for the Dodgers, this is also for them. I'm happy for all the fans and all the people who have followed my career. They're going to be very excited to know that my No. 34 is being retired."
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Valenzuela's number 34 will take its place among those previously displayed on the left field club level: Pee Wee Reese's number 1, Tommy Lasorda's number 2, Duke Snider's number 4, Gil Hodges' number 14, Jim Gilliam's number 19, Don Sutton's number 20, Walter Alston's number 24, Sandy Koufax's number 32, Roy Campanella's number 39, Jackie Robinson's number 42 and Don Drysdale's number 53.
"I am incredibly happy that number 34 for the Los Angeles Dodgers will be retired forever," said Stan Kasten, Dodgers president & CEO. "The one question that I continuously get asked, more than anything else, is about retiring Fernando Valenzuela's number. The citywide call by our fans to honor him is truly remarkable. What he accomplished during his playing career, not only on the field but in the community, is extraordinary. He truly lit up the imaginations of baseball fans everywhere. It's hard to envision a player having a greater impact on a fan base then the one Fernando has had."
City News Service contributed to this report