The affair will include music by DJ Alf Alpha, several speakers and a flyover by Palm Springs Air Museum aircraft.
A lawsuit by a group of local residents threatens to thwart the effort to keep it at its new location.
Welding materials ignited a section of bubble wrap during the installation process last Friday, causing a brief fire but no injuries or damage to the sculpture.
PS Resorts Chairman Aftab Dada previously said he wanted to see the statue remain at the Museum Way location permanently.
Dada countered that the statue is an economic powerhouse that brought the city millions of dollars of free publicity during its first rendezvous in Palm Springs.
“Forever Marilyn” was designed by artist Seward Johnson, who died in March 2020.