Liverpool will officially hand over the symbolic keys to Eurovision in a ceremony in Malmo, Sweden later.
The city hosted the 2023 song contest event on behalf of Ukraine.
Malmo will host this year's event after Sweden's Loreen won in Liverpool with the song Tattoo.
Metro Mayor Steve Rotheram will hand over the key, which was designed by Merseyside artist Neal Keating in the shape of an anchor - the symbol of Liverpool's twin city Odesa, Ukraine.
The 30cm key was created by three artists across the region who oversaw the 3D printing of the key, the fabrication and painting.
It features the Liver Birds, a yellow submarine, a vinyl record to mark Liverpool's Unesco City of Music status, the 'United By Music' strapline, and is decorated in Eurovision colours.
The handover ceremony will take place ahead of ahead of the Eurovision Song Contest 2024 semi final draw, which will be streamed live at 19:00 CET.
Mr Rotheram, who is leading the delegation from Merseyside, said he wanted to build on the legacy of the song contest in the city.
"Obviously we want to celebrate what we did for Eurovision last year here in Liverpool, but it's more about what are the legacy issues, what can we build from those relationship?" he said.
"And Malmo is really interested in talking to us about things like, for instance, gaming. There's a big gaming industry over there, so we want this to be a trade delegation as well as a cultural exchange."
Speaking ahead of today's ceremony, Liverpool City Council's cabinet member for health, wellbeing and culture Harry Doyle said although the ceremony marked the end of Liverpool's Eurovision journey, the contest had made a long lasting impact on the city.
"We don't want Eurovision to leave. I don't think it ever will, we've still sort of got that buzz and that feeling in the city," he said.
"So it will never fully leave. We've got to handover, reluctantly, but Malmo's going to do a fantastic job."
Eurovision Song Contest Malmo 2024 takes place from 7 - 11 May.