Bank of England Governor Mark Carney said Monday that Turing was "a giant on whose shoulders so many now stand."
Turing's work cracking Nazi Germany's secret communications helped win World War II, but after the war he was prosecuted for homosexuality, which was then illegal.
He was subjected to excruciating conversion therapy as part of his probation, which included hormonal injections to reduce libido and led to the feminization of his body.
The treatment caused Turing to become impotent and caused breast tissue to form. He committed suicide in 1954 - two weeks before his 42nd birthday - after eating an apple laced with cyanide.
Turing received a posthumous royal pardon in 2013 after an internet campaign.
The U.K's highest-denomination note is the last to be redesigned and switched from paper to more secure and durable polymer. The redesigned 10 pound and 20 pound denominations feature author Jane Austen and artist J.M.W. Turner.
The Turing banknote will enter circulation in 2021.