Work to demolish all major steelmaking facilities at the former Redcar Steelworks will start within a matter of weeks and complete within a year.
The first phase of the work has been taking place since the Teesworks site was launched last July, creating 691 jobs.
The pace of demolition across the site will now be accelerated so that the land is "investor-ready faster and jobs for local workers can be delivered sooner" according to Tees Valley Mayor Ben Houchen.
The work will see all of the old iron and steelmaking plants demolished, with contracts for their demolition appointed by August and work beginning on 2 August.
It is expected more than 1,000 workers will be on-site over the next 12 months to carry out the work.
The announcement comes just days after it was announced plans had been submitted to Redcar and Cleveland Borough Council for GE Renewable Energy’s giant, offshore wind blade manufacturing facility.
Mayor Houchen said: “The blast furnace has dominated Redcar’s skyline for the past 40 years but now we must move on, bring it down and look forward to the site’s bright future."
Councillor Mary Lanigan, Leader of Redcar & Cleveland Borough Council, said: “This is about developing our world-class industrial site for both today and the future.
"It is crucial work which will help us attract investment from around the globe which could bring high-quality jobs for generations to come and I would like to thank everyone involved."
Around half a million tonnes of scrap is expected to be recovered from the site.