Fowler had two spells at the club as a striker, and will have a third as an ambassador.
Fowler had two spells at the Reds as a player, scoring a total of 183 goals in 369 goals in total - and was part of the side that won the historic treble in 2001 of the League Cup, FA Cup and UEFA Cup.
He'll begin his role when the club fly out to the USA for their tour of the country as they gear up for the new season.
The 39-year-old told the club's website: "Liverpool has been a massive part of my life for 30 years now," he commented. "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."
It's the third time that Fowler will be representing the club, which he also referred to on his twitter page.
Officially becoming an @LFC ambassador today. Excited for new role with the Club, starting with our USA Tour kicking-off on Sunday— Robbie Fowler (@Robbie9Fowler) July 18, 2014
Best hattrick ever.... Feels so good to be representing the club for the third time— Robbie Fowler (@Robbie9Fowler) July 18, 2014
Fowler has also been doing the odd session with the younger players at the Kirkby academy recently alongside Steve McManaman and Rob Jones.