Liberal National Party Leader David Crisafulli is leading the charge to rename the 10.2km rail line, which will run through the inner city from Dutton Park in the south to Exhibition Station in the north.
Mr Crisafulli says renaming the $5.4 billion project as the Elizabeth Line - following the example of the London Underground's newest line - would be a fitting tribute to the former monarch's seven-decade reign.
"Renaming Cross River Rail to The Elizabeth Line is a once-in-a-lifetime opportunity for Queensland to forever honour her life and legacy," he said in a statement.
"Her Majesty's 70-year reign was defined by her dedication to duty and service and this plan would see her name continue to service our state.
"Queenslanders have shown great respect for the Queen and I am sure they will get onboard and sign the petition so we can make this happen."
Deputy Opposition Leader Jarrod Bleijie, the state's most prominent monarchist, said the change would remember Elizabeth II's eight visits to Queensland - in 1954, 1963, 1970, 1977, 1982, 1988, 2002 and 2011
"Renaming the project is a magnificent way to remember Queen Elizabeth II," Mr Bleijie said.
"It would also be a fantastic opportunity for the Royal Family to come to Queensland and officially open The Elizabeth Line just like the Queen did earlier this year in London."
Comment has been sought from Queensland Transport Minister Mark Bailey.
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