In 1946, Costello was joined by Abbott to fund a 3.3 acre playground with baseball field on Olympic Blvd.
in the Boyle Heights district of Los Angeles.
The "Lou Costello Jr. Youth Foundation" opened May 3, 1947.
In 1951, the playground was sold (donated) to LA City Parks for less than one-third its cost, and the name changed to "Lou Costello Jr. Youth Recreation Center."

On June 26, 1992, the city of Paterson, New Jersey, in conjunction with the Lou Costello Memorial Association, erected a statue of Costello in the newly named Lou Costello Memorial Park in the city's historic downtown section.
It shows Costello holding a baseball bat, a reference to the team's most famous routine, "Who's on First?".
The statue has had brief appearances in two episodes of The Sopranos: "Big Girls Don't Cry" and "Cold Stones".
The statue and the "Who's on First?"
routine also featured in the film Paterson (2016).
In 2005, Madison Street, in the Sandy Hill section of Paterson, where Costello was born, was renamed Lou Costello Place.

The centennial of Costello's birth was celebrated in Paterson on the first weekend in March 2006.
From June 24 to 26, 2006, the Fort Lee Film Commission held a centennial film retrospective at the Fine Arts Theatre in Hollywood.
Films screened included the premiere of a digital film made by the teenagers of the present day Lou Costello Jr. Recreation Center in East Los Angeles.
Also premiered was a 35 mm restored print of the Lou Costello-produced 1948 short film 10,000 Kids and a Cop, which was shot at the Lou Costello, Jr. Youth Center in East Los Angeles.

In 2009, Costello was inducted into the New Jersey Hall of Fame.

Abbott and Costello are among the few non-baseball personnel to be memorialized in the Baseball Hall of Fame, although they are not inductees of the Hall.
A plaque and a gold record of the Who's on First?
sketch have been on permanent display there since 1956, and a video of the routine loops endlessly in the exhibit area.
In 1946, Costello was joined by Abbott to fund a 3.3 acre playground with baseball field on Olympic Blvd. in the Boyle Heights district of Los Angeles. The "Lou Costello Jr. Youth Foundation" opened May 3, 1947. In 1951, the playground was sold (donated) to LA City Parks for less than one-third its cost, and the name changed to "Lou Costello Jr. Youth Recreation Center." 
On June 26, 1992, the city of Paterson, New Jersey, in conjunction with the Lou Costello Memorial Association, erected a statue of Costello in the newly named Lou Costello Memorial Park in the city's historic downtown section. It shows Costello holding a baseball bat, a reference to the team's most famous routine, "Who's on First?". The statue has had brief appearances in two episodes of The Sopranos: "Big Girls Don't Cry" and "Cold Stones". The statue and the "Who's on First?" routine also featured in the film Paterson (2016). In 2005, Madison Street, in the Sandy Hill section of Paterson, where Costello was born, was renamed Lou Costello Place.
The centennial of Costello's birth was celebrated in Paterson on the first weekend in March 2006. From June 24 to 26, 2006, the Fort Lee Film Commission held a centennial film retrospective at the Fine Arts Theatre in Hollywood. Films screened included the premiere of a digital film made by the teenagers of the present day Lou Costello Jr. Recreation Center in East Los Angeles. Also premiered was a 35 mm restored print of the Lou Costello-produced 1948 short film 10,000 Kids and a Cop, which was shot at the Lou Costello, Jr. Youth Center in East Los Angeles.
In 2009, Costello was inducted into the New Jersey Hall of Fame.
Abbott and Costello are among the few non-baseball personnel to be memorialized in the Baseball Hall of Fame, although they are not inductees of the Hall. A plaque and a gold record of the Who's on First? sketch have been on permanent display there since 1956, and a video of the routine loops endlessly in the exhibit area.
Lou Costello