The move is part of an on-going regeneration project being led by the local authority.
It is understood the war memorial will be temporarily relocated to the cemetery garden, adjacent to Broompark Community Centre, in the early autumn. A survey will then be carried out to determine a permanent site for the structure.
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Councillor Dennis Goldie, spokesperson for Economic Development said: "Work to deliver phase 1 of the new town centre is progressing well and we’re pleased that people have expressed support for our plans.
"We're also looking for the views of the community over the final position of the war memorial for Denny. It's a sensitive and important decision for the town and we hope that people will give careful consideration to the options available."
A recent survey conducted during a series of drop-in sessions found that 77% of those who attended, supported the Council's plans to regenerate the town centre.
(JP/CD)
