The move is happening to enable the Council to move ahead with their Vicarage Street regeneration proposals.
Nuneaton and Bedworth Borough Council have confirmed that Wilko is relocating to Queens Road.
The business is moving into the former Woolworths shop which is a prime town centre location.
The move is happening to enable the Council and partners to move ahead with their Vicarage Street regeneration proposals.
Vicarage Street will have a new library and business centre, up to 65 residential properties and a new landscaped public space leading to St Nicolas Church.
Cllr Kris Wilson, Nuneaton and Bedworth Borough Council Leader and Portfolio Holder for Business and Regeneration, said: “Wilko’s is an integral part of Nuneaton Town Centre, and the move to the old Woolworth’s site will ensure their presence in Nuneaton for years to come.
"Regenerating Nuneaton is essential to building a better future for our town, and this move with enable a new state-of-the-art library and business centre to be built.
"This is yet another positive step forward in Transforming Nuneaton.”
An outline planning application has already been submitted for the development which is being managed by Warwickshire County Council, Nuneaton and Bedworth Borough Council and their strategic development partner Warwickshire Property and Development Group.