The Bath Rock building was removed for repair after suffering severe damage in early January.
The decision to rebuild the shelter followed a meeting between Ceredigion council and the heritage body, Cadw.
The work will use as much of the original timber as possible, and is likely to start before the end of May.
Part of the shelter fell into a hole that opened up after its foundations were washed away by waves that pounded the seafront.
"A meeting took place between officers of Ceredigion County Council and Cadw on Monday 3 March, with the outcome being that the Bath Rock Shelter on Aberystwyth Promenade will be rebuilt using as much of the original timber as possible," said a council spokesman.
"The rebuilding will commence when the sea wall has been adequately strengthened and the weather improves. Work is likely to begin before the end of May."
In January, Cadw told the council that it wanted the 1920s landmark to be repaired and replaced in its current position.
The council has said the cost of repairing Aberystwyth promenade and other locations in Ceredigion damaged by storms was more than Â£1.5m.
The council aims to completely reopen the promenade to the public by Easter.
A Grade II-listed seafront shelter is to be rebuilt after being badly damaged by the winter storms that battered Aberystwyth promenade.