The cast iron A-listed structure is being repaired by Industrial Heritage Consulting Limited on behalf of the Ross Development Trust and completion is scheduled for spring 2018.
The year-long project will see the feature removed piece by piece from West Princes Street Gardens, with new foundations and waterworks enabling the fountain to operate for the first time in years.
The conservation will be carried out by Industrial Heritage Consulting Limited, which worked with Lost Art Ltd in 2013 to restore the Grand Central Fountain in Paisley.
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Edinburgh's Lord Provost, Frank Ross, said: "Edinburgh boasts statues and monuments at almost every turn. Yet, out of the 200 monuments in our care, the Ross Fountain stands out as one of the most timeless.
"Since being installed in the shadow of Edinburgh Castle in 1872, it has become one of the most recognisable features of Princes Street Gardens. We are very grateful to the support of the Ross Development Trust. Thanks to this project, Edinburgh can look forward to seeing the fountain back in Spring."
David Ellis, Project Director for the Ross Development Trust, said: "As we prepare for public consultation on the Ross Pavilion designs, we are delighted to see restoration work begin on the fountain. We are keen to see the peace and tranquillity of the gardens, enjoyed by so many, enhanced by these improvements."
(LM)
