It will include the reopening of nightclubs, and the end of a curfew for the hospitality sector.
Covid passes will no longer be needed, except for international travel, and live events and matches can have full attendances.
The timelines will be decided by the government today - but the reopening is likely to begin this weekend.
Political Reporter with the Irish Times, Jack Horgan-Jones, says the Taoiseach will be making a memorable address to the nation this evening:
"I think the most likely thing to happen is that we'll get this cabinet sub committee meeting a bilateral meeting between some of the senior ministers and some of the senior Nphet people. I think that'll happen probably at some stage this morning to compare notes, they'll discuss the correct approach and then you got a cabinet, a cabinet meeting this afternoon, followed by the full 61 address probably from Michael Martin. And you know, unlike many of those addresses, I think this one really will be quite memorable."