Collison spent four seasons with the Seattle Supersonics before they relocated to Oklahoma City in 2008. He completed the remaining 10 years of his career with the Thunder and officially announced his retirement this past offseason.
"I started in cold gyms in small towns in Iowa and ended up playing in more than 1,000 games over 15 years in the best league in the world," Collison said in May. "I've had an incredible run. I'm proud of my career.
"But it's time to go. I'm retiring from competitive basketball."
The Toronto Raptors will be visiting when the Thunder raise Collison's jersey to the rafters.
Collison will have his number hanging alongside the jerseys of former Sonics greats Nate McMillan, Lenny Wilkens, Spencer Haywood, and Jack Sikma. He'll become the first Thunder player to receive the honor.
The 38-year-old averaged 5.9 points and 5.2 boards in 910 appearances through 14 seasons.