Full-back Murphy made his Tigers debut as a teenager in November 1997 and has played in seven Premiership-winning squads as well as four finals of Europe’s Heineken Cup with the club. He has also gained 72 caps for Ireland and played in two Tests with the British & Irish Lions.
Tigers director of rugby Richard Cockerill said: “Reaching 300 games for the club is an excellent achievement and Geordan will go down in the list of Leicester Tigers all-time greats.
“He is a world-class player, an outstanding player and captain, and he has shown great loyalty to Leicester over the years.
"I’m sure he’ll receive a great reception from the supporters this weekend and he thoroughly deserves it.”
Tigers start with George Ford at fly-half, Matt Smith partners Billy Twelvetrees at centre, and Scott Hamilton is recalled on the wing. Samoan prop Logoviii Mulipola continues in the front row and Julian White returns to the matchday squad.
Tickets for Saturday’s game are available now. Phone the Tigers ticket hotline on 0844 856 1880, visit the Tigers ticket office at Welford Road or the Club Store in Market Street, Leicester, or book online.
Leicester Tigers (v Newcastle Falcons, Welford Road, Saturday 3pm)
15 Geordan Murphy (c)
14 Horacio Agulla
13 Matt Smith
12 Billy Twelvetrees
11 Scott Hamilton
10 George Ford
9 James Grindal
1 Marcos Ayerza
2 George Chuter
3 Logoviii Mulipola
4 Ed Slater
5 George Skivington
6 Steve Mafi
7 Julian Salvi
8 Thomas Waldrom
Replacements
16 Rob Hawkins
17 Boris Stankovich
18 Julian White
19 Graham Kitchener
20 Craig Newby
21 Scott Steele
22 Jeremy Staunton
23 Niall Morris
Newcastle Falcons: 15 Greg Goosen, 14 Tom Bedford, 13 Jamie Helleur, 12 James Fitzpatrick, 11 Jeremy Manning, 10 Jimmy Gopperth (c), 9 Chris Pilgrim, 1 Grant Shiells, 2 Rob Vickers, 3 Euan Murray, 4 Andrew van der Heijden, 5 Tim Swinson, 6 Ally Hogg, 7 Will Welch, 8 Mark Wilson
Replacements: 16 Michael Mayhew, 17 Jonny Golding, 18 Ashley Wells, 19 Taiasina Tu’ifua, 20 Richard Mayhew, 21 Will Chudley, 22 Rikki Sheriffe, 23 Joel Hodgson
