Ariel Russo was fatally struck by an SUV driven by an unlicensed driver who ran into the girl while police say he was trying to outrun officers.
Now, the section of West 97th Street between Broadway and Amsterdam Avenue will be renamed Ariel Russo Way.
"The family...hopes this street naming will in some way be helpful in preventing other families from suffering such a terrible tragedy," attorney Sanford Rubenstein said in a statement.
Monday would have been the girl's fifth birthday. Her grandmother was also injured in the accident.
Franklin Reyes, 17, is awaiting trial.