The Costa Concordia hit a reef Jan. 13, killing 32 people. The wreck is now on its side on rocky seabed near the port of Giglio island.
Now, Florida salvage company Titan Salvage plans to roll the ship upright and onto a platform, using cranes and water-filled cisterns and then tow it to a seaport for demolition.
The company's biggest concern is that the ship may slip into deeper water. It hopes to complete the operation early next year.
Costa Concordia's captain is under house arrest while being investigated for alleged manslaughter and abandoning ship during evacuation.
The Associated Press contributed to this report.