Trippier became only the third England player to score in a World Cup semi-final when his free-kick put Gareth Southgate's men 1-0 up against Croatia on Wednesday.
He also starred in the rest of the tournament, only missing one game — the final game against Belgium at the group stage.
Council leader Rishi Shori proposed the idea during their meeting on Thursday evening.
Previous recipients include film director Danny Boyle and the band Elbow. Councillor Shori said: "He deserves to be acknowledged.
"He is a huge role model to younger people and hopefully can inspire the next generation of footballers in Bury."