The pedestrianised Bash Street, named after the Bash Street Kids, is located in the West Marketgait area of Dundee, the city which is home to the comic's publishers DC Thomson.
It is being unveiled in the same month that the Bash Street Kids celebrate their 60th anniversary.
The comic strip is published in The Beano, which also features characters such as Dennis the Menace and Minnie the Minx.
The street sign features an illustrated design, believed to be one of the first of its kind in the UK.
Beano editor-in-chief Mike Stirling said: "The Bash Street Kids are legends of our past, present and future.
"By reading The Beano, generations have 'attended' school with the characters and kids still follow their adventures every week.
"It's truly an honour for kids of all ages, everywhere, that a street is being named after The Bash Street Kids.
"The Beano team are thrilled, well, everyone except Dennis. He's not a happy boy, not at all. He thinks the street should have been named 'Menace Street'."
The sign was designed by the consumer products team at DC Thomson and uses classic Bash Street Kids artwork.
The 'Bash Street' sign features Plug and Wilfred putting their own spin on street art by leaving a couple of interesting messages for Teacher.
Bill Campbell, depute convener of Dundee City Council's city development committee added, "We have many roads in Dundee named after famous people, famous places and even famous rivers, but I think this is the first time that we've agreed to name a street after a famous street!
"The Bash Street Kids and The Beano itself are iconic and it is truly fitting that the city of their birth should commemorate them in this most public of ways.
"We've already got statues of Desperate Dan and Minnie the Minx in the city centre and it's good to tie in with other comic characters."