The old tuna fishing vessel, the Tiwi Pearl, is in position in Moreton Bay ahead of its sinking on Sunday.
Climate Change and Sustainability Minister Kate Jones said boaties would be welcome to view the sinking provided that they observed a 250 metre radius exclusion zone.
The Tiwi Pearl is scheduled to be sunk around 9am on Sunday (March 14).
"The Tiwi Pearl is moored at its sinking position east of St Helena Island, 18 kilometres offshore from Manly," Ms Jones said.
"She'll be sunk by flooding rather than explosives.