Van Hanegem was often praised by contemporaries like Johan Cruyff. For his significant contributions to the club's rise to domestic and European success, Feyenoord honored Van Hanegem in 2014 by naming one of its stadium's stands after him.

As a manager, he won the league and cup with Feyenoord and spent a period as the Dutch national team's assistant coach. His most recent job as manager was for FC Utrecht, from 2007 to 2008. He