After a career on home soil at Manchester United and Everton, Rooney is now in Major League Soccer with DC United.
Southgate was inspired to give the striker a significant tribute after seeing how Germany honoured striker Lukas Podolski around a 2017 game against England.
"We were all struck by the fact that it was a good way to recognise someone who's had a fantastic career for his country," Southgate said. "We've not been brilliant at that over the years."
As Rooney bids farewell to England, Bournemouth striker Callum Wilson has been called up for the first time after scoring six goals this season in the Premier League.
Midfielders Dele Alli and Jesse Lingard return after being ruled out of last month's Nations League games against Spain and Croatia through injury, with Mason Mount and James Maddison dropping out.
A draw with Croatia followed by a victory over Spain leaves England waiting on the result of the meeting between their League A Group Four rivals before Southgate knows what is at stake in his final Nations League game.
Relegation to League B or progression into the finals of the inaugural competition both remain possibilities for England, which lost to Croatia in its first World Cup semifinal in 28 years in July.
- AP