"It's a huge moment," Warne told the BBC after the stand bearing his name was officially opened before the start of the one-day international between England and the West Indies at the Rose Bowl here on Saturday.
"I'm very, very proud of this -- Hampshire's been my second home, I had a great time when I played here and to have a stand named after me is pretty special," the 42-year-old added.
Warne, widely regarded as one of cricket's greatest leg-spinners of all-time and a fine tactician, but whose colourful private life helped deny him the Australia captaincy, led Hampshire to English cricket's 2005 one-day trophy.
He also guided the south coast side back to the First Division of the County Championship in his first year in charge and oversaw title challenges in the next three seasons.
Warne left the club in 2007 and earlier this year the suite named after him was taken over by the ground's new sponsors, Ageas.
But Warne has now had a permanent tribute paid to him by the club, who on Saturday also named a stand after another former captain, the late Colin Ingleby-Mackenzie, who led Hampshire to their first County Championship title back in 1961
