The provincial government says it has selected Montreal-based Delsan-A.I.M. Environmental Services for the job following a request for proposals.
Site demolition is expected to take 18 months to complete and the company will be able to re-sell equipment and materials.
In return the province is to get $500,000 and a percentage of any profits realized by the company.
The Transportation and Works Department says once the mill site is taken down, discussions will be held with interested parties including the Town of Grand Falls-Windsor, on the possible remediation and future uses of the site.
The mill was shut down in 2009.