Tredrea called an end to his decorated career in July this year after a three-month battle with a serious ankle injury.
The four-time All-Australian played a club-record 254 games for the Power and captained the team to its inaugural flag in the absence of injured skipper Matthew Primus.
Tredrea wore the No.16 jumper in 11 of his 14 seasons with Port Adelaide, briefly giving it up to wear No.1 in line with the club's captaincy tradition, but said he was only too happy to hand the guernsey on.
"It's good that Ben wants it because I don't think there were too many takers there early on," Tredrea said on Thursday.
"Everyone asks you what you think of giving your guernsey away, but it's not mine to give. It's almost like a rental property. While you're living there it's yours, but once you go it's someone else's turn."
Tredrea, who before Thursday had only spoken to Jacobs over the phone, said he did his homework on the skilful half-back.
"The first thing I did when the club drafted Ben was to get on the club website and see how he played," Tredrea said.
"I also caught up with a few of the [Port Adelaide] boys at the cricket on the weekend and they were big wraps for Ben. He's one of those guys that comes along with super talent, but also puts his head down and works hard.
"Once you do that the supporters will love you, the players will love you and you'll get the best out of yourself," Tredrea said.
Port selected Jacobs with pick No.16 in last month's NAB AFL Draft.
The left-footed ball magnet is being eased into full training, but the club expects him to push for AFL selection in round one next season.
Jacobs said it was an honour to wear Tredrea's guernsey.
"When it comes game day you want to be accountable because you know who you're playing for in a way and that you've got that number 16 on your back," Jacobs said.
"In saying that, there's no pressure and I'll try and make my own mark on the jumper."
Jacobs and his teammates paid a visit to the Women's and Children's Hospital on Thursday, with midfielder Kane Cornes handing over a cheque for $2000 on behalf of the players.
