The area is closed to vehicles between George St and Princes St, and Lower Stuart St from the Octagon to Moray Place, until 11am on Saturday.
In November, the Dunedin City Council announced it was cancelling celebrations in the Octagon due to Covid-19.
But, it said, it would still continue with part of the traffic management plan for New Year’s Eve, to ensure a safer environment for pedestrians on what is a busy evening for the area’s hospitality venues.