The South Rotunda, the circular building close on the banks of the Clyde will be used as a "pop up venue" as part of the Glasgow 2014 Commonwealth Games cultural programme.
Built by Glasgow Tunnel Company, the pedestrian tunnel of the building is currently lying derelict.
It will be home to a puppet and visual art show, inspired by Helen Ward's book The Tin Forest, created by the NTS and Graham McLaren, its associate director as well as Gavin Glover, the puppet designer.
The South Rotunda will also provide the backdrop to a seven day festival created by international young theatre-makers and an opening event, with live music from leading Scottish artists.
Mr McLaren said: "I've imagined making a show in Glasgow's South Rotunda since I was a boy.
"I can think of no place better for us to remember where Glasgow has been, and to dream of where we are going."
The Tin Forest project will also see its associate director Simon Sharkey lead teams of artists in four communities in Glasgow, Springburn, Govan, the East End and the south west, to tell a story about their community to be performed in June next year.
The festival will also bring together 10 youth theatre companies from around the Commonwealth.
These groups will also perform at the South Rotunda from July 24 to 28. The opening event is July 22.