After Chumakov's death, the Institute that he founded was renamed in his honor as M.P.Chumakov Institute of Poliomyelitis and Viral Encephalitides of the Russian Academy of Medical Sciences. In 2016 the Institute and its vaccine manufacturing facility were reorganized into M.P. Chumakov Center for Research and Development of Biological Products of the Russian Academy of Sciences. A main-belt asteroid 5465 Chumakov discovered by Lyudmila Georgievna Karachkina was also named in his honor.