Andrew Walch, who was also known as Ed, is understood to have been stabbed during a suspected burglary at the Island Village complex, near Playa de las Americas, on Thursday, May 6.
His family and friends have confirmed his death on social media, and the Foreign Office has said it is "supporting the family of a British man who has died in Tenerife".
Three people are believed to have been arrested and questioned over his death, after the former Christ the King high school pupil was allegedly stabbed.
The 31-year-old's Facebook page, in the name Ed Walch, has been turned into a memorial page, with many friends leaving tributes speaking of their shock and grief.
One woman said: "Rest in eternal peace Ed, you will live on in so many of us forever. I love you beyond words and will miss you for the rest of my life."
A woman, believed to be his former partner, said she 'knew it was going to end this way', writing: "No matter what you did I still love you and you did me like you told me last night.
"I can’t believe your gone I’m so so sad and mad right now."
Others have shared pictures of flowers left at the scene of his death.
Mr Walch, who used to live on Acacia Road, Ribbleton, moved to Tenerife last year before the pandemic, having had a troubled criminal history in Preston.
He was the first man to be banned from Preston city centre when he was handed a five-year ASBO in 2007.
In 2012 a court case heard how he had fought Hodgkin’s disease, a cancer of the blood, in prison.
It is understood he moved to Tenerife to start a fresh life.
Lancashire Coroner's Office and Lancashire Police said they had not been officially notified of his death.
But a Foreign Office spokesman said: “We are supporting the family of a British man who has died in Tenerife and are in contact with the local authorities. Our thoughts are with the family at this difficult time.”
A spokesman for National Police confirmed to another newspaper that the dead man was a "31-year-old Brit", adding: "There have been arrests. The matter is still under investigation and there is nothing more we can add at this stage although we may be able to say more later.”
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