Wallis will wear the No.3 vacated by Andrejs Everitt, while Liberatore will take on 21, last worn by Jason Akermanis.
Wallis' father Steve wore No.24 in 261 games for Footscray from 1983 to 1996. That number was available but Wallis chose not to wear it. Instead it has been allocated to Jayden Schofield.
Liberatore's father Tony wore No.39 in 283 games from 1986 to 2002. That number has been left vacant, as it was during 2010.
Bulldogs football manager James Fantasia said both Wallis and Liberatore had been offered to carry on their families' legacies.
“Mitch and Tom had the option to take their fathers numbers but they have declined this. Both boys are very keen to forge their own path in the AFL and we understand why they have made this decision," Fantasia said.
"We are just thrilled to have the Wallis and Liberatore names back in the red, white and blue."
Wallis was taken with the Bulldogs' first pick, No.22 overall at last week's NAB AFL Draft, while the Dogs used pick 40 on Liberatore.
Former Lion Justin Sherman will take on Nathan Eagleton's No.10, while former Swan Pat Veszpremi has taken over No.32 from Jarrad Boumann.
New Bulldogs' player numbers
3. Mitch Wallis
10. Justin Sherman
21. Tom Liberatore
24. Jayden Schofield
26. Zephaniah Skinner
32. Patrick Veszpremi
33. Nathan Djerrkura
35. Tom Hill
