In a statement posted on his official Twitter account, the mayor said that the proposal to change the name of the street has been signed and that they will be presented to the city council Monday evening.
The US embassy in Ankara has no comment on this issue.
The move comes amid tension between the two NATO allies escalated after Turkey on Jan. 20 launched "Operation Olive Branch" against the US-backed Kurdish People's Protection Units (YPG) in Syria.
Turkey sees the YPG as the Syrian affiliate of the Kurdistan Workers' Party (PKK), a group Ankara considers as terrorist.
However, the US has supported the YPG as its ally on the ground in combating IS in Syria.