The dark colour on the dog's nose had been worn off by people rubbing the snout "for luck".
The restoration comes following a Facebook campaign which highlighted the damage caused to the famous statue.
This week, bronze sculpture conservation and restoration specialists, Powderhall Bronze, carried out work to clean, re-patinate and wax Bobby's nose to restore the black colour that had been lost over time.
Councillor Richard Lewis, the city's Culture and Sport Convener, explained: "Although Bobby has never been in any immediate danger, it was highlighted to us that the practice of rubbing his nose was starting to make him look a little scruffy. As one of the most famous - and most popular - statues in the Capital, it's only right that he looks his best at all times.
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"Once we became aware of the local concern it was clear that we had to act and I'm delighted we’ve been able to get specialists in to restore Greyfriars Bobby to his former glory."
Becky Thomson, who launched the Facebook campaign, welcomed the move by the local authority.
She said: "This campaign started out as a bit of fun and I was amazed by how many people supported the page. We discussed ways we could address the problem as ordinary members of the public - by asking tour guides to discourage it or maybe using anti-climb paint.
"Given that this is a world-famous statue in a World Heritage site it now makes sense the Council are involved.
"Now it is up to anybody who is passing just to keep an eye open and politely ask people to keep their paws off Bobby's nose so it doesn't happen again!"
Traditionally, the story of the real Bobby is that the dog had been the pet of Edinburgh constable John Grey, who died of tuberculosis in 1858 and Bobby is said to have stayed close to where his master was buried. It is claimed that the dog's mourning lasted until it died in 1872.
(JP/CD)
