Mr. Tan died on 12 August 1961 in Peking (Beijing) at the age of 87 and was given a national funeral by the government of the People's Republic of China. Even at his death, Tan was still fervent about his public education cause. He willed all his money (1million renminbi) to be given to the schools in his hometown.

Tan left behind Jiageng Park, a national monument in China that was formerly a little island on the southeast seaside of Jimei.

On 11 March 1990, the International Asteroid Centre of China named Asteroid 2963, discovered by Zi Jin Shan Observatory of the Chinese Academy of Sciences, after Tan Kah Kee to commend his remarkable contributions to educational causes. The naming ceremony of the "Tan Kah Kee Star" was held at Xiamen University.

Other than monuments and the "Tan Kah Kee Star", he has such a high status amongst overseas Chinese that some of the world's most prominent Chinese got together in Hong Kong in 1992 and established the Tan Kah Kee International Society. The society aims to promote the advancement of science and culture for the benefit of human Society.

Just as he is remembered in China through national monuments, Mr. Tan Kah Kee is remembered in Singapore through his donations, foundations and scholarships. The Chinese High School, specially erected a bronze statue of its founder, Tan Kah Kee, in front of the clock tower for remembrance. His generosity continues to benefit future generations of Singaporeans. Mr Tan's Young Inventors' Award continues to fund budding scientists as well as inventors in Singapore, playing a role in spurring the scientific community as well as Singapore's research and development capabilities.