The Royal Glasgow Institute of the Fine Arts annual exhibition is now in its final year at its Mitchell Library home, but organisers have no idea where the 2013 show will be staged.
Karin Currie, the president of the RGI – which held its first showing the city in 1861 – said she is worried the show will not have a home next year.
The RGI is now to have a summit meeting with Glasgow City Council about the future of the show, which the institute wants to see return to its traditional home at the McLellan Galleries in the city's Sauchiehall Street.
"It is time to leave the Mitchell and currently we are homeless, which, of course, is a concern for next year," she said.
"We are working hard at returning to the McLellan Galleries and we will need to make the decision by the end of the year.
"Missing a year is not an option I want to consider – the RGI annual show ran through two world wars, so I will not allow that to happen."
In recent years, the currently empty McLellan Galleries have languished in obscurity in the city's centre, and are closed to the public.
The RGI's first annual exhibition in 1861 was at the McLellan Galleries and the building hosted it until the galleries were required to house the collections of the Kelvingrove Art Gallery and Museum while it was being renovated.
The RGI understands around £100,000 needs to be spent on the galleries to make them habitable again for a tenant.
Built in 1856, the galleries are named after Archibald McLellan, a coach builder, councillor and influential patron of the arts.
This year's RGI show has more than 370 pieces. At its launch last weekend Ms Currie said: "The Mitchell has been home to this annual exhibition for many years, and we've grown accustomed to its space.
"We always knew though that it wasn't permanent and it's time for us to move on. A sense of longing to be back in our 'spiritual home' has never gone away, and the McLellan Galleries beckon.
"We are now working with Glasgow City Council to find the way forward that would ensure the return of these impressive, purpose-built galleries to the city's cultural fold – not just for the RGI but as a cultural hub, a showcase for Scotland's wide-ranging creative talents.
"Just how quickly this can be effected relies primarily on the strength of political will."
The 151st RGI Open Annual Show 2012 runs until October 6. As part of the show, 23 artists were honoured with awards.
Last year, more than 3000 people visited the exhibition where works are on sale, with prices ranging from hundreds of pounds to several thousands.
This year the show also features an additional exhibition, the Salon Selection at the RGI's Kelly Gallery in Douglas Street.
The RGI was formed in 1861 when 10 prominent Glasgow citizens met in the Queen's Rooms, Buchanan Street, to discuss establishing exhibitions of the work of living artists.
By the end of the 19th century, many leading UK and European painters displayed work at the exhibition and the displays of French painting influenced the Glasgow Boys, who showed their work at the show.
At the turn of the 20th century, work by famous artists such as John Singer Sargent, James McNeill Whistler and John William Waterhouse could be seen alongside paintings by Edward Hornel, John Lavery and James Guthrie at the shows.
Well-known artists who have the official RGI title, only 50 at any one time, include William Baillie, Dame Elizabeth Blackadder, Shona Kinloch and John Knox.