The Merseyside outfit confirmed today that the 39-year-old, who spent eight years of his senior career across two spells at Anfield, will take on numerous tasks in his new role.
The retired professional will act as a mentor to the youth players, as well as attend matches and work with commercial partners.
"Liverpool has been a massive part of my life for 30 years now," Fowler told the club's official website. "It's been an honour to play for this club and it's even more of a privilege to be asked to be an ambassador.
"I'm looking forward to representing this great club and will do all I can to support success both on and off the pitch."
Fowler will travel with the first team to the United States for their pre-season tour, where they will play friendlies in Boston, Chicago, New York and Charlotte.