Several of Morgan's former clubs also honoured the player, who most recently had spells for Isthmian League Premier Division sides Wingate & Finchley and Hornchurch.
Morgan also played for Shrewsbury Town, Plymouth and Hartlepool during a 21-year career in football which saw him ply his trade with numerous lower league and non-league sides.
The Manchester-born striker ended his career at Hornchurch, where he played 12 games in his final year at the club.
However, he earned respect from many in the game after founding successful fashion lable Fresh Ego Kid.
Former club Hendon confirmed the sad news of Morgan's passing.
A statement from the club read: "We are shocked to have learned this morning of the passing of Marvin Morgan at the age of just 38 years old.
"Marvin joined us at the start of the 2018/19 season and had a big influence in his 7 appearances. Our thoughts are with his friends, family and loved ones today."
Meanwhile, Lukaku, often seen wearing the Morgan's brand, posted on Instagram: "This is some sh*t news man… RIP my brother you will be missed."
Morgan revealed his reason for starting Fresh Ego Kid back in 2011 as he insisted on having a life outside of football.
"Boredom was my motivation," he said. "I just got home from a session one day and sat in front of the computer. I was so bored. I was fed up with spending money on clothes, fed up with shopping, fed up with playing computer games."
Despite having no experience of graphic design, Marvin created the logo for his new brand. "It was as simple as that," he says.
"As footballers, we finish at 1pm. That's it. Once we've finished training, there's nothing at all to do. I decided to do this."
Top football stars and celebrities have gone on to wear Fresh Ego Kid clothing, while there is now a flagship store in Swiss Cottage, London.