The Dollstore and Hospital on George's Street in Dublin is to close this weekend.
The owners have blamed the closure on high rents and the increased cost of doing business.
The family-run store will continue to trade online and thousands of dolls, toys and accessories will be available to buy.
However, the "Dolls hospital and Teddy Bears Clinic" - repair service - has been suspended indefinitely because of the personal nature of the service.
The original dolls hospital opened on Mary’s Street in 1939, while the George’s Street premises has been open for 28 years.
The owners say they plan to open a museum to showcase their collection.
Retail Excellence Ireland called on the Government to address the issue of commercial rates and rents which it claims is threatening stores all over the country.
