Shrek, the hermit merino, will be flown to Auckland in a specially constructed box for his third "haircut" since 2004, when he was discovered.
The venture will raise money for Cure Kids.
Shrek has become something of a legend since he was found during a muster on Bendigo Station, after he had managed to avoid the shears for six years.
His first shearing in Cromwell was shown live on television.
Two years later, he was shorn on an iceberg 90km off the coast of Dunedin.
To date, Shrek has raised over $130,000 for his charity of choice, Cure Kids.
For this, his third shearing, he will travel to Auckland.
The event will be held on Sunday at the Sky Tower.
Cure Kids South Island funding manager Josie Spillane said 150 people would be there to watch as the woolly favourite lost his coat, with local Cure Kids ambassadors also invited to the event.
"We are amazed to see what a cult figure Shrek has become.
Children adore him and it is wonderful to have him working as an ambassador for Cure Kids, helping us raise our profile about research, and treating some very sick children to such one-off experiences.
It really does brighten their day," Mrs Spillane said.
Sky Tower would donate $5 of the admission fee between 2pm and 4pm on Sunday to Cure Kids.
Children would be given "a small bag of wool as a memento".
Those who frequented the Qantas hospitality lounge before or after the shearing might get the chance to see the famous sheep, Mrs Spillane said.
"Shrek, when flying, always flies with Cure Kids' key partner Qantas, who ensure his journey is a safe one.
"His past flights have even seen him enjoying the hospitality in the Qantas lounges."
Shrek will return to Wanaka on Monday - by private jet.
