Plans to remove the 49-year-old venue on Ryndle Crescent, which has stood empty for four years following the opening of Scarborough Sports Village, were approved in November 2021.
The demolition work involves the removal of asbestos from the building, which Cllr Steve Siddons said has now been completely removed.
It will also include the removal of the building's foundations and pool structure, which is sunk into the floor.
At the leader's last update in January, he said work would commence "shortly" as contractors were waiting for Northern Powergrid to disconnect the former indoor pool from the mains electricity grid before demolition work goes ahead.
The former swimming pool is now set to be disconnected from the grid tomorrow, February 25, the leader has revealed.
Cllr Siddons said contractors have been appointed and are ready to commence demolition of the much-loved pool in early March.
In January, Cllr Siddons said "the plan is to clear that site and to tidy it up with some grass".
"At the same time we are talking to a number of possible investors who have an interest in that site, but no formal agreement has been made," he added.
Cllr Siddons reiterated that the authority is exploring fencing off the area after councillors raised anti-social behaviour concerns and that the open land could attract travelling communities.
The plans are part of a wider regeneration scheme for Scarborough's North Bay, known as the Sands development.
It includes replacing the hoardings which surround the former Atlantis water park and the refurbishment of toilets at the Northstead Upper car park, which opened last year.