Graeme Sharp is to advise the Everton board of directors in a new role at Goodison Park.
Sharp, 59, who has been appointed as the club's players' life president, is Everton's post-war leading scorer.
The former Scotland striker scored 160 goals in 447 appearances – second only to Dixie Dean on the Everton scoring list – between 1980 and 1991 and returned to Goodison in an ambassadorial position in 2000.
Speaking about his new enhanced advisory role to the board, Everton chairman Bill Kenwright told the official club website: "It's all about the DNA with Evertonians and Sharpy has that.
"That is the reason why we asked him to be the players' life president.
"Sharpy was a major part of the club's greatest period ever. He's not only kept that love of Everton, he's kept the Everton DNA and that's why the fans love him.
"I could not imagine Everton without Graeme Sharp.
"As a player, he had skill, he had finesse but he was and still is such a humble lad who is grateful to remain part of Everton and that makes me even more grateful to have him."
Sharp, who won two League titles, an FA Cup and a European Cup Winners' Cup with the Blues, will provide a point of contact for the club's captain, board, academy, executive leadership team and first-team management staff.
He said: "I have been fortunate enough to represent Everton around the world and the way in which the supporters, current and former management teams and staff, and our current and former players are connected to and have a bond with the club makes Everton special.
"The ambition shown by Mr (Farhad) Moshiri, the chairman, and the board at Everton means it is a really exciting time to be an Evertonian.
"I look forward to being able to work with all the people who make our club what it is and represent them in my new role."
