The school is also increasing Black and Indigenous scholarships.
Ryerson University announced in a press release on August 26 that the school will be renamed.
The Standing Strong (Mash Koh Wee Kah Pooh Win) Task Force's final report was presented to Ryerson's Board of Governors earlier today, and they accepted all 22 recommendations.
"The report provides clear recommendations on how the university can move forward and write the next chapter in our history. The Task Force's 22 recommendations include renaming the institution, sharing materials to recognize the legacy of Egerton Ryerson, and providing more opportunities to learn about Indigenous history and Indigenous and colonial relations," reads the press release.
"The report provides a full picture of the past and present commemoration of Egerton Ryerson, yet the recommendations are not based on either vilification or vindication of the individual."
Egerton Ryerson was involved in the creation of Canada's residential school system, and many people have called for the university to be renamed in recent years. Petitions have even been started to attempt to get the school to change its name.
The statue of Egerton Ryerson was toppled in June 2021 after the remains of 215 children were discovered at a former residential school in Kamloops, B.C.
The Task Force's recommendations will also make room for increased Black and Indigenous scholarships.