The East Belfast Councillor said he expected Belfast City Council to release full details soon, with the event expected to take place in coming days.
Councillor Mervyn Jones said: “Carl Frampton is a great ambassador for Belfast, with another excellent result last Saturday night not only putting boxing in the spotlight but making him an inspiration for many.
“Across Belfast and further afield there are many people who want to celebrate Carl’s achievements, and I’m delighted Belfast City Council took my suggestion of holding a free event in the grounds of the Waterfront.
“Once the full details are released I hope to see as many people as possible coming along to recognise the success that Carl has achieved through hard work and determination.”