Gold, silver and emerald treasures thought to be worth as much as $17billion could be removed from the San José galleon in April.
The "holy grail of shipwrecks" was discovered by the Colombian navy in 2015, but its location has remained a state secret.
Efforts to recover treasure from the Caribbean Sea have been pushed back amid multiple international legal disputes.
Colombia, Spain, Bolivian indigenous groups and a US salvage company have all laid claim to the wreck.
Gold, silver and emerald treasures thought to be worth as much as $17bn could be removed from the San José galleon in AprilReutersOfficials now say they could begin lifting artefacts from the "holy grail of shipwrecks" as soon as April.
The Spanish galleon San Jose was returning to Europe with treasures to help fund the war of the Spanish succession when it was sunk by the British in 1708.
Alhena Caicedo, director of the Colombian Institute of Anthropology and History said: "There has been this persistent view of the galleon as a treasure trove.
"We want to turn the page on that. We aren’t thinking about treasure.
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"We’re thinking about how to access the historical and archeological information at the site."
The ship has been controversial because it is both an archaeological and economic treasure.
Colombia President Gustavo Petro previously said he wants the recovery of the shipwreck to be one of the "priorities" of his administration before his term ends in 2026.
The promise to raise the shipwreck comes amid an ongoing dispute over who owns the treasure, which is said to be worth between £3.2bn and £16bn.
The Spanish Galleon San Jose sunk in 1780Presidencia de la República - ColombiaThe exact location of the expedition is being kept secret to protect what is considered one of the greatest archaeological finds in history from malicious treasure hunters.
Just a handful of its 600-strong crew survived when the galleon sank.
According to the Colombian government, the three-mast 64-gun vessel will be raised to the surface through a public-private partnership.