Escalante was a calculus teacher at Garfield High School in East Los Angeles from 1974 to 1991.
His high standards for his students inspired the 1988 movie "Stand and Deliver."
Saturday, the new kindergarten to sixth-grade facility on Live Oak Street held a ceremony to mark its new name, the Jaime Escalante Elementary School.
The school is a brand new facility that serves 600 pupils.
The family of Escalante, who died a year ago of cancer, attended the ceremony, along with several of his former students.
The Bolivian-born Escalante is remembered for his philosophy that every student is capable of high achievement, regardless of their circumstances.