This marks the first time in the club's 133-year history that a player's number has been retired. The gesture will apply across all levels of the club - men's, women's, and academy teams.
The decision was made in close consultation with Jota's wife, Rute, and his family.
"By retiring this squad number, we are making it eternal - and therefore never to be forgotten," said club CEO Michael Edwards. "Diogo joined us in 2020, he won us number 20, and he wore it with honour, distinction, and affection."
Liverpool will also honour Jota and Silva with a tribute ahead of Sunday's friendly against Preston. A minute's silence will be observed, players will wear black armbands, and a joint wreath-laying will take place near the away fans. A special edition of You'll Never Walk Alone will precede kickoff, and tributes will be displayed on screens and pitchside boards.
The matchday programme will feature written tributes, further celebrating Jota's legacy - on and off the pitch.
Real Madrid are pushing to sign Liverpool's Alexis Mac Allister, offering Brazilian forward Rodrygo in a potential swap deal to bring the Argentine midfielder to the Santiago Bernabeu, per Spanish outlet Defensa Central.
Alejandro Garnacho has turned down a move to Saudi Arabian side Al-Nassr, passing on the chance to link up with his idol Cristiano Ronaldo, according to reports.
Real Madrid are reportedly engaging with Liverpool over what would be a sensational £130m double deal for Alexis Mac Allister and Ibrahima Konate.
Chelsea are preparing a dramatic swoop for Paris Saint-Germain's Gianluigi Donnarumma, eyeing the Italian shot-stopper as a potential crown jewel in their rebuilding project - just as they gear up for a crucial Club World Cup final.
