The teams meet in Belfast later this month
The rugby community in Ireland is small and tight.
Ulster winger Nevin Spence tragically died in a farming accident in 2012. Following Spence's death, Munster honoured the Ireland Wolfhounds player with a permanent plaque in Thomond Park's away dressing room.
Following Anthony Foley's death last weekend in Paris, Ulster have announced that Foley will be given a similar honour in the Kingspan Stadium.
"Anthony Foley was a magnificent rugby player and a magnificent human being," Ulster CEO Shane Logan told BBC Sport.
"We extend our condolences to his family and all in Munster rugby."
"Munster were superb when Nevin Spence died - they did us the great tribute of placing a permanent memorial to Nevin in their away changing room."
"We would like to reciprocate for Munster."
Speaking after Ulster's loss to Bordeaux on Sunday, Ulster's Director of Rugby paid tribute to Foley. The two men worked together in the Irish setup under Declan Kidney.
"I had the pleasure to coach with Axel, and he just saw the game in the simplest way. That was to be tough up front and play the game in an uncompromising way, and that was they type of character he was."
Ulster and Munster are scheduled to meet in Belfast later this month on November 28th. It may be a very emotional night in the Kingspan Stadium.
Funeral arrangements for Anthony Foley were announced on Tuesday night.