The site of Monty's Bar, which has been empty since a blaze in March 2009, was purchased by the council earlier this year.
Now a demolition company has been brought in to tear down the building.
Councillor Michael McCormick said: "I am delighted we have finally managed to resolve this long-running situation. The building was practically destroyed by the fire six years ago and became something of a local landmark for all the wrong reasons.
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"The Council and Riverside Inverclyde has already invested significant sums and plan to invest the best part of £2 million over the next two years in the regeneration of Port Glasgow town centre.
"It would be counter-productive to make improvements across the area without addressing the situation with Monty’s Bar."
After demolition, the area will landscaped while a decision is made on the long term future of the site.
(LM)
