Fans Against Criminalisation (FAC) said they would release 'Roll Of Honour' next week in a bid to "embarrass the hypocrites who seek to criminalise us".
The song mentions the 10 Provisional IRA and INLA members who starved themselves to death in Northern Ireland's notorious Maze Prison in 1981 in protest against the UK Government's prison policies for paramilitary inmates.
It has seen several Celtic fans brought before the courts under the Offensive Behaviour at Football Act for the line "England You're A Monster", although some of these cases have been dismissed by sheriffs.
It is being released in conjunction with its authors, the notorious 'rebel' band The Irish Brigade.
A statement from FAC said the release of the song would "help aid our campaign against the criminalisation of football supporters and the suppression of political expression".
It adds: "This particular song is a ballad about civil resistance and a struggle for basic human rights and it has been a favourite of the Celtic support for over a decade.
"Shamefully, the SNP's Offensive Behaviour at Football and Threatening Communications (Scotland) Act has resulted in the song becoming a target for Police Scotland and numerous arrests have been made as a result.
"From its outset FAC has sought to oppose this discriminatory piece of legislation and to defend the rights of football supporters which have been continually eroded since the Act's introduction.
"We call on the Celtic family from all corners of the globe to support this campaign by downloading the single to help raise funds to aid the legal costs of those whose lives are being torn apart by this disgracefully illiberal law and to help further publicise the hypocrisy inherent within the government's position."
But the move has not been universally endorsed by Celtic fans on social media, with some criticising the plans as being unrepresentative of the wider support.
One fan said: "'This is a song the vast majority of fans see as having nothing whatsoever to do with their club. Celtic is a club which is looking forward, not back."