Press secretary Karoline Leavitt confirmed the decision, citing Donald Trump's "unbelievable work" in the building's reconstruction, financial stability, and reputation.
Donald Trump, who chairs the board, has previously referred to the John F. Kennedy Center for the Performing Arts by the new proposed name.
The proposed name change is likely to be met with opposition, with Kennedy family member Maria Shriver previously calling similar legislative efforts "insane."
Donald Trump, who showed little interest in the centre during his first term, replaced board members with his supporters upon his return to office and has since secured significant funding for renovations.