ESPN's Jesse Rogers reported Thursday the designation will allow the Ricketts family, the owners of the team, to access "federal income tax credits on the recently completed refurbishing" of the stadium, which opened in 1914.
The Friendly Confines housed the Federal League's Chicago Whales for its first two years before that franchise ceased operations, paving the way for the Cubs to take over the ballpark.
It was called Weeghman Park at the outset and then became Cubs Park in 1920 before taking on the name Wrigley Field in 1927 after the Wrigley Company secured majority ownership six years earlier.
Known for its compact, old-school style and ivy-laced outfield wall, the stadium hadn't gone under any major renovations until recent years.
Ricketts and his family paid around $1 billion for the upgrades but sought the landmark status to help cover the cost. The approval granted by U.S. Secretary of the Interior David Bernhardt is expected to create "millions in tax credits," per Rogers.
"The historical significance of Wrigley Field is interwoven into our nation's story and a key part of what has become America's beloved pastime for over a century," Bernhardt said.
Landmarks must retain their legendary structure and status in order to retain their place on the list. Rogers noted Chicago's Soldier Field, home of the NFL's Bears, was removed in 2006 following an extensive series of improvements.
Fenway Park in Boston is also in the National Register of Historic Places.
Wrigley Field, which also housed the Bears from 1921 through 1970, holds over 41,000 fans at full capacity and was named a Chicago Landmark in 2004.