The National Trust have taken custody of the crustacean, whose pigmentation is so rare that only one in 100 million lobsters have the same colouring.
It is living in a display tank at the Old Coastguard Station in Robin Hood's Bay after a fishing trawler caught it near Scarborough.
Bringing back the world's oldest trawler from the Falklands would be a fitting legacy for HullThe crew took the creature to the North Eastern Inshore Fisheries and Conservation Authority in Bridlington, who decided to donate it to the National Trust.
The lobster's appearance is caused by a genetic defect called leucism, which leaves it with no pigment in its shell.
The Trust have asked the public to come up with suggestions for a name.
The Old Coastguard Station was once a public house before it was taken over by the Coastguard in 1829 for use as a base to combat smuggling in the village. They vacated the building in the early 1900s and it was then used for holiday lets.
The new Hull trawler which supplies 13million portions of fish and chips every yearIn 1912, Leeds and Sheffield universities rented the station for use as a marine laboratory, and purchased it as a permanent research base in 1922.
The University of Leeds built a new lab in the 1960s and sold the Coastguard station for use as a management training centre. The National Trust bought it in the 1990s, and restored it before re-opening it as a visitor centre with a holiday flat on the top floor.
A new rockpool tank was installed in 2011. The centre is free to visit and open throughout the year.