Hughes, 25, was playing for South Australia when he was hit by New South Wales pacer Sean Abbott's bouncer and it proved fatal.
The MCC flag at Lord's has been lowered in respect.
MCC President David Morgan, who watched Hughes' Test debut in South Africa, said, "This devastating loss has shocked the cricket world, and on behalf of MCC I offer our condolences to his family and friends."
"I well remember his first series in South Africa. Phillip was a fine cricketer and one who we will tragically never have the chance to see batting again here at the Home of Cricket. Cricket can be a dangerous sport, but for a talented young man to lose his life playing the game he loved is beyond most people's comprehension. Known as he was to so many at Lord's, this news will be hard felt."
He played in the Ashes series in England that summer, and in total appeared in 26 Tests for his country, scoring 1,535 runs at an average of 32.65 with three centuries.
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