Iran U-21 manager Mohammad Fanaei accompanied by other football federation officials attended the ceremony.
The Ukrainian football coach, who died in 2002, is most famous for his spells managing Dynamo Kiev, the Ukraine national football team, and the former USSR national football team.
Iran U-21 football team has taken part in the Valeri Lobanovsky Memorial U-21 Football Tournament in Ukraine with three other teams.
Iran lost to Ukraine 2-1 in the tourney on Tuesday.
Gholam Peyrovani’s team, who are preparing for the 2012 Olympics qualifiers next year, fell behind after Roman Zozulya’s strike at the half hour mark.
Captain Ehsan Hajsafi, who plays for Iran League outfit Sepahan, restored parity for the Asians eight minutes later from the spot only to see Volodymyr Lysenko seal the matter for the hosts seven minutes from time.
