Replacement would have cost £3,600
Douglas Council has chosen to remove the two-sided clock attached to the former Isle of Man Bank building on Victoria Street.
A fixture since the early 1960s, the timepiece has been deteriorating in recent years and is now coming to the end of its design life.
The clock, which was gifted to the council by the Townswomen's Guild, was last inspected in May by clockmakers 'Smith of Derby'.
With further repairs deemed too expensive, councillors have chosen to have it removed, and are considering erecting a small plaque in recognition.
A replacement would have cost the local authority an estimated £3,600.