The ban on cruise ships is likely to end on April 17, with a formal announcement expected in the next couple of days.
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Trade and Tourism Minister Dan Tehan said the NSW and Queensland governments are finalising state health protocols that will allow cruising to start again.
"We have agreed in the next day we are going to get all the work necessary so hopefully on Wednesday we can announce that April 17 is the day that cruising can begin again," the minister told Sky News.
The announcement is welcome news for the tourism industry.
"It is no secret not having cruise ships has been absolutely devastating on the industry as a whole," said Akorn Australia and New Zealand head of cruise Anthony Brent.
"It has devastated the cruise industry and tourism as a whole, but it has impacted other industries also with retail, hospitality, transportation, so the return will have a positive impact on not just our business but on a whole wide variety of businesses that sits outside of tourism."
The ban on cruise ships in Australia is estimated to have cost the industry 18,000 jobs and five billion dollars in lost revenue.
The 2018-19 cruise season was record-breaking for the Port of Newcastle, with 16 cruise ships and more than 29,000 passengers visiting the port, before cruises were banned for more than two years amid the COVID-19 pandemic.
Port of Newcastle Trade Development Manager Tony Corbett said they are anticipating cruising will resume in the coming months, but the port's usual high season is between October and April.
"Once we receive a formal date that cruise ships can resume operations, Port of Newcastle will expect to be able to welcome any vessels within 90 days of that announcement," he said.
Around six million passengers have sailed across the world during the last 12 months, with cruises running again in 80 different locations, making Australia one of the last among major cruising nations to resume the service.
"Everyone has been travelling over Europe and the Caribbean because it has been open all this year and all of last year. I have got people traveling to Europe on cruises next month and the month after," Andy's World Travel and Cruise Centre managing director Geoffrey Antoniades said.
"I have got hundreds of people waiting to book and go on cruises and we have got lots of people who have got credits from 2020 because they couldn't go on cruises and now they are waiting for these cruise ships to come back."
However, once the ban has lifted it can take up to two to three months to get a cruise ship up and running, crewed and repositioned to Australia. Without prior warning, this could mean cruise ships do not arrive to Australia until well after the ban has been lifted.
"How do you get the boat here? Do they use time travel? Do they just blink and it is here? These things take a long time to get here. If they are in Europe it is at least 30 odd days, if it is in America it is 20 or 25 days to get them here and get them ready," Mr Antoniades said.
"Planes are fine and they have started increasing their frequency but a boat you have to sail it here, you can't put it on the back of a car and tow it here."
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Mr Antoniades said travel agents need to be told the official recommencement date well in advance so they can begin booking people into cruises, which has not been done.
"If it is April 17 it is going to be great news if it happens, but we need to be told in advance.
"We don't know anything and the cruise ships are not going to book themselves."
The ban has been in place since the Ruby Princess docked in Sydney and triggered the country's first major COVID-19 outbreak.
More than 900 passengers on the ship eventually caught coronavirus, which led to 28 deaths.
However, Mr Brent is confident the safety of passengers will be improved.
"The cruise lines have been working really well with the government to put through protocols and we are confident that what is going to be put ahead will be safe for the public," he said.
The Australian Cruise Association CEO Jill Abel said they have been working since the ban to ensure cruises can safely return.
"Extensive work has been done with the wide range of government agencies that have involvement with cruise, to ensure that policies and procedures can be rolled out effectively when the time is right for cruise to resume."
