Douglas Borough Council will erect a memorial to mark the fortieth anniversary of the Summerland disaster.
On August 2nd 1973 50 people died when the leisure complex was completely destroyed by fire.
The memorial will take the form of three granite columns set into a three-metre diameter circle of paving, the columns will bear the names of all those who lost their lives.
It will be installed in the Kaye Memorial Garden at the foot of Summer Hill.
The disaster is remembered as one of the most tragic events in Manx modern-day history.
It will be unveiled at a special service of remembrance on August 2nd.