Beyond recognition of the day, activities will be held by the Education Ministry to help teach Israelis and provide resources on the history of the Spanish Inquisition.
About 25,000 of applications were submitted in 2019 alone, many of which have not yet been processed.
Over a hundred thousand Jews, mainly from Turkey and Israel applied for citizenship through this policy, out of which, about 20 thousand have so far received a Portuguese Passport, according to Ynet.
"The decision to submit a bill that would again prevent Jews from exercising their legal right, reminds us of dark days and regimes crueler than even that of the Inquisition," the letter added.
“Hopefully, this day will create greater awareness of this dark chapter of Jewish and Portuguese history, which still casts a giant shadow across the world."
Jews imprisoned in ghettos and concentration camps still found several ways throughout that time to mark Yom Kippur.
There was a Jewish presence on Majorca from 418 CE, but prior to and during the Spanish Inquisition the community were forced to convert to Christianity.
According to experts on the Spanish Inquisition between 10 and 20% of El Paso's population have Jewish origins.
Today, some 200 million people may be descendant of the Spanish and Portuguese communities forced to convert to Christianity.
Attendance has doubled from the first Limmud conference last year, he said.