Riders can see views across the city on the 60m wheel
The Nottingham Eye is to be renamed after owners of the London Eye threatened legal action.
The temporary Big Wheel in the Old Market Square will now be known as the Nottingham Wheel from Tuesday.
The 196ft (60m) wheel first arrived in the city in February 2008 and has attracted thousands of visitors.
Merlin Entertainments, which owns the London Eye, said its brand is recognised around the world and did not want any link with the smaller wheel.
In a statement the firm added: "Merlin Entertainments has invested heavily in establishing the London Eye brand globally, and as such will take all necessary steps to protect it from unauthorised use by any other company seeking to gain commercial benefit, or imply any link with our brand."
James Mellors, director of the Nottingham ride, said: "We're not in London, we're not affecting the London Eye.
"We were very shocked. The eye has become a generic name for a wheel and was the name the public had been calling it.
"We're now working hard to change everything to suit the London Eye company."