Work will begin on Monday to dismantle the 5.5m (18ft) high structure before it is moved to a new home.
Officials will make an announcement about the location at a later date but say it will remain outdoors.
Councillor Gordon Matheson, leader of Glasgow City Council, said: "Our city came alive during the Games and the Big G was the standout backdrop to the city's celebrations.
"Even now, more than a fortnight after the Games, people are still queuing up to have their picture taken with it.
"Although originally intended only for display during the Games, I am sure that people will want to enjoy this landmark for years to come.
"That's why I'm delighted to say it will be restored and treated so that it can be permanently displayed and enjoyed by Glaswegians and visitors to our city."
The local authority is also looking to find new homes for the 25 statues of Games mascot Clyde that formed a trail across the city during the competition.