The former England star - who won the World Cup in 1966 - left thousands of pounds to good causes when he passed away at the age of 86.
One of his donations helped to set up a football academy for youngsters in Manchester.
Street Reds was launched by the Sir Bobby Charlton Foundation along with the Manchester United Foundation and it offers free football and alternative activities for people between the ages of eight and 18.
As well as helping youngsters develop their football skills, it also provides opportunities to gain new qualifications.
Street Reds sessions are free and aim to help some of the most underprivileged young people, including many refugees and victims of conflict.
Head coach Mike Dugdale told The Mirror: 'We had a huge donation [from Sir Bobby] that allows this to happen, and the turnout every week is brilliant.
'What's great is we have a lot of kids who are 14 and over which is a critical age – we get them off the streets and engaged in football.
'The primary purpose is football engagement and getting kids onto the pitch – but we do see some special players who we can signpost to the academies.'
Street Reds, which launched in August, is very similar to the famous Bobby Charlton Soccer Schools that first opened in the 1970s.
Street Reds was launched in August this year by the Sir Bobby Charlton Foundation and the Manchester United Foundation
Stephen Cross, chair of the Sir Bobby Charlton Foundation, added: 'We believe that Sir Bobby would be immensely proud to see this reincarnation of his concept, which is now pointed towards helping victims of conflict.
'It is a very natural intersection of the elements, and we are delighted to team up with Manchester United Foundation to bring this to a reality.'
During his life, Charlton also raised money for cancer hospitals and founded his own charity to fund research into improved civilian landmine clearance.