"Her work is so beautiful because she writes about feelings and these are universal," Fisher added.
Fisher, also a GSE graduate, gave a gift of $1 million toward the professorship last year.
The new post will not alter Lawrence-Lightfoot's responsibilities.
"The only change is that she now has an endowed chair," said Wendy E. Angus, her assistant. "It won't change her day-to-day work at all."
Currently, Lawrence-Lightfoot teaches two courses at the GSE in addition to her research. She also sits on a number of committees and boards of directors, including the National Academy for Education and the Boston Globe.