Despite being regularly involved this term, Torres will leave Atletico on a free transfer this summer when his contract expires.
The Spaniard left Atletico for Liverpool in 2007 before returning to his boyhood club in 2015, and Simeone has lavished praise on the 34-year-old for everything that he has brought to the Spanish outfit.
"For Fernando Torres, it's a dream come true. I've never given him anything for free but he represents everything we're about," Simeone told reporters. "He has left a great legacy for his teammates, for the club. I hope he gets the send-off he deserves on Sunday."
Torres is expected to make his final Atletico appearance at home to Eibar on Sunday afternoon.