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Memorial and museum

On April 19, 1949, the Yankees unveiled a granite monument in Ruth's honor in center field of Yankee Stadium. The monument was located in the field of play next to a flagpole and similar tributes to Huggins and Gehrig until the stadium was remodeled from 1974 to 1975, which resulted in the outfield fences moving inward and enclosing the monuments from the playing field. This area was known thereafter as Monument Park. Yankee Stadium, "the House that Ruth Built", was replaced after the 2008 season with a new Yankee Stadium across the street from the old one; Monument Park was subsequently moved to the new venue behind the center field fence. Ruth's uniform number 3 has been retired by the Yankees, and he is one of five Yankees players or managers to have a granite monument within the stadium.

In 1974, Ruth's birthplace in Baltimore was renovated and opened to the public as the Babe Ruth Birthplace and Museum. The museum houses a collection of artifacts from Ruth's life, including some rare baseball cards and the earliest known signature of Ruth, from when he was still pitching in the schoolyard. Ruth's widow, Claire, his two daughters, Dorothy and Julia, and his sister, Mamie, helped select and install exhibits for the museum.