The 42-year-old, Laxman scored 8,781 Test runs at an average of 45.97, and over 2,338 One-Day International runs at an average of 30.76.
As well as playing for his country, the 2002 Wisden Cricketer of the Year represented Hyderabad in domestic cricket and had two spells in the English county game with Lancashire, in 2007 and in 2009.
Laxman played three Test matches at the Home of Cricket, the first in 2002, when he scored 43 not out and 74, while his last innings at Lord’s in 2011 saw him finish on 56.
Laxman said: “It’s an absolute honour to become a member at such a prestigious and historic cricket club.I have always admired the rich heritage the Club stands for and I look forward to being a part of the incredible culture of the Club.”
With inputs from MCC Website
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