The statue of Our Lady of the Taper normally resides in the Catholic National Shrine of Wales in Cardigan.
But it will be taken to London in September when the Pontiff will bless and light the taper candle in the hand of the Virgin Mother.
The ceremony will take place at Westminster Cathedral on Saturday 18 September 2010.
The idea for the statue's pilgrimage to London came from Rev Father Jason Jones, who is the Rector of the National Shrine.
When it was announced that the Papal visit to Britain would not include a visit to Wales, Father Jones contacted Tom Burns, Bishop of the Roman Catholic Diocese of Menevia, suggesting that the statue could be taken to London to be blessed by The Pope.
Pilgrims
"The Bishop was in Rome at the time and he put the idea to The Holy Father," said Father Jones.
"He also showed The Holy Father where Cardigan was on the map.
"We then submitted a formal request which was accepted by a committee responsible for the Papal visit."
The statue will start its journey to London on Wednesday, 15 September, accompanied by Father Jones and 60 pilgrims from the Diocese of Menevia, including 22 from Cardigan.
They will hold a vigil and prayer reception at Clifton Cathedral that night before completing their journey on the next day.
Consecrated
According to legend, a statue of Our Lady and Child was found beside the River Teifi with a burning taper in her hand.
The statue was housed at St Mary's church, which dates back to around 1158, making the shrine more than 800 years old.
Father Jones, said: "The original statue was taken to London in 1538 during the Reformation and destroyed at the request of King Henry VIII's chief Minister, Thomas Cromwell."
In the 1950s a new statue was carved in London, blessed at Westminster Cathedral, before being taken taken to Cardigan in 1956, where it was placed in Our Lady of Sorrows church.
A new church, Our Lady of the Taper, was consecrated 14 years later when the statue was placed in its current home.
In 1986, it was recast in bronze and a candle blessed by Pope John Paul II in Rome was placed in the statue's hand.
The Pontiff, at this time, also designated Our Lady of The Taper as Wales' National Shrine.
SIC: BBC