Birmingham's answer to the London Eye is opening to the public on Thursday.
The wheel was previously located close to the Champs-Elysee in Paris
The 60ft high wheel, believed to be the largest transportable wheel in the world, will be in Centenary Square until the end of January 2004.
It was previously located close to the Champs-Elysee in Paris and has 42 four to six seater gondolas.
The 15-minute ride will cost £5 for adults and £3 for children.
Councillor Ian Ward, Birmingham City Council's cabinet member for leisure and culture, said the city was the first in the UK to host the attraction.
"We are delighted to have made Centenary Square available for the world's largest transportable wheel, which will give people an extraordinary view of the city.
"Its arrival provides an exciting start to our programme of Christmas events and attractions, which promises to be the best ever."
World Tourist Attractions and Birmingham City Council worked together to ensure the wheel was in place for Christmas.
A spokesman from World Tourist Attractions said it was an exciting additions to the city skyline.
"It has a fantastic skyline and people can come along and share with their family and friends a very different view of the city from the wheel."
The wheel is due to open at 2000 GMT on Thursday.