A report on the new facility, which is due to be completed in 2016, was discussed at the Education Executive earlier this week, with approval granted for a formal consultation to now take place.
The six-week consultation exercise will look at the two possible sites. They are Weedinghall in Polmont and a plot of land next to Moray Primary School in Grangemouth.
The current school, which is designed for pupils with a range of additional support needs, is situated next to Larbert High School.
Councillor Alan Nimmo, Spokesperson for Education, said: "We're pleased with the shortlisted sites and hope that everyone involved with the new school will help to choose the right location for this new facility.
"Both locations have different strengths but they are centrally located and offer a range of educational, sports and recreational facilities for pupils.
"I would urge everyone with an interest in the relocation of this school to take part in the consultation which will be available for just over six weeks and help us choose the best site for the new school."
Half of the cost of the new school was secured from the Scottish Government's 'Schools for the Future' programme.
The consultation document is available via the Falkirk Council website, in schools and council offices, as well as libraries and Sealock House.
Two public meetings will also take place on:
- 17 September 2013 at Moray Primary School from 7pm
- 24 September 2013 at Carrongrange School from 7pm
Following the consultation period a further report will be brought to the Education Executive for consideration.
(JP/CD)