Prime Minister Stephen Harper made the announcement Wednesday night in Toronto at an event celebrating the discovery of the historic shipwreck last year.
He says the divers and archeologists will venture beneath the ice daily for roughly 11 days.
The two ships of the Franklin expedition and their crews, 129 members in all, disappeared during an 1845 quest for the Northwest Passage.
So far, the location of the other ship, HMS Terror, remains a mystery but Harper says he's confident it can be found.
Since 2008, Parks Canada has led six major searches for the lost ships, which long ago captured the Victorian imagination and gave rise to many searches throughout the 19th century for Franklin and his crew.