The projected scheme aims to reduce the risk of coastal flooding by building improved defences between Douglas Terrace and the castle.
The development is being led by the Design and Property Division (Engineering Section) of City Development.
It is expected 80% of the projects funding will be supplied by the Scottish Government Capital Grant for Flood Schemes, with the remaining 20% being allocated in the council's Capital Plan for 2016-2021.
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The consultation will take place from 11am – 7pm at Castle Green Community Centre on Tuesday, 13 December.
Will Dawson convener of the council's city development committee, said: "Since the last public consultation we undertook in June our engineers have been working on refining the details of the project, trying to take on board comments and feedback from the people of the Ferry.
"This latest exhibition will give them a chance to see how their reaction has influenced the design so far and tell us more about the updated plans."
(LM/MH)
