The first 20,000 fans through the gates will receive a collectible Alomar bobblehead to commemorate the occasion.
The festivities officially begin at 12:29 p.m. ET, when a special screening of The Journey to Cooperstown will air on the video display board. First pitch was pushed back to 1:30 to accommodate the ceremony.
The Journey is a documentary put together by Project 10 Productions that takes a behind-the-scenes look at Alomar's path to becoming just the third Puerto Rican inducted into the Hall of Fame.
Following the screening, an on-field ceremony will begin, featuring friends and former teammates of Alomar.
The 12-time All-Star will then make history by becoming the first player in franchise history to have his jersey retired.
Alomar was inducted into the Hall of Fame on July 23 in Cooperstown, New York. He received that honor after being listed on more than 90 percent of the ballots cast by the Baseball Writers' Association of America, which represents the highest percentage of any non-first-ballot electee.
The 43-year-old Alomar spent five seasons in a Blue Jays uniform. He led the club to back-to-back World Series championships in 1992-93 and each year with the club he was named to the All-Star team and won a Gold Glove for his prowess as a second baseman.
Alomar's .307 career average as a Blue Jay is the highest mark in club history with a minimum 2000 plate appearances and he also ranks second in stolen bases (206) and fifth in triples (36).