The theme park ride which caused the deaths of four guests will be shut down and demolished.
Dreamworld theme park owner Ardent Leisure said the Thunder River Rapids ride will be dismantled.
"Out of respect for the memories of Cindy Low, Roozbeh Araghi, Kate Goodchild and Luke Dorsett, and their deeply affected families, the ride will be permanently decommissioned," said Ardent chief executive Deborah Thomas.
The closure of the ride is the only respectful and appropriate course of action."
All evidence of the ride will be removed except for a permanent memorial, which will be designed with input from the bereaved families.
The company has come in for severe criticism since the crash with the public and the Australian Workers Union citing safety issues over the operation and maintenance of equipment at Dreamworld.
The police investigation at the park has ended but park management has not yet disclosed when it plans to reopen the park.
The October 25 accident was the first fatalities since it opened 35 years ago.
