Deputy chief minister Buddhadeb Bhattacharjee said the decision was taken at Tuesday's cabinet meeting presided over by Chief Minister Jyoti Basu.
The state government will present a silver bat to the Indian skipper.
Bhattacharjee said Urban Development minister Ashok Bhattacharya, Sports minister Subhas Chakraborty and Tourism minister Manab Mukherjee had been entrusted with the job of finalising the programme and the venue.
''I spoke to Saurav on Monday to finalise the date and he agreed,'' he added.
The West Bengal assembly decided on Monday to send a letter of appreciation to Ganguly for bringing back the Indian cricket team on the victory trail.