The site of the oldest footprints in the northern hemisphere on Valentia Island, Co Kerry, is being purchased by the Government and will be declared a national treasure.
Simultaneously, legislation is being prepared by the Minister for Heritage, Ms de Valera, to safeguard geological sites from being raided by thieves who sell the fossils to collectors abroad.
At the moment there are no laws to stop fossil pirates looting prime scientific sites, which are to be found in at least seven counties.
The Valentia footprints are the "jewels" of the country's fossils and have attracted major international interest since a Swiss scientist discovered them in 1993. They have just been featured in National Geographic magazine.
The prehistoric prints are thought to have been made by a one-metre-long primitive amphibian more than 385 million years ago. The dinosaur era did not begin until about 155 million years later.
The 15m track of parallel footprints, preserved in Valentia slate outcrops on sea cliffs, was precisely dated using minerals in a layer of volcanic ash above it.
The site is being bought by the State, and it is planned to provide a car-park and access to viewing points without endangering the footprints.
"It will be a flagship project as it is the first site being purchased as an Irish geological monument. It is of huge international importance and has the potential to be a major tourist attraction," according to Dr Mathew Parkes of the Geological Survey of Ireland.
Similar footprints were discovered preserved in a paving slab in Australia. Although they are thought to be older, the dating is less definitive than for Valentia.
"The footprints are very important because they mark the transition for vertebrates which had been living in water. They came out to live on land and developed limbs and breathed air."
Dr Parkes is also investigating other fossil sites which will be listed as heritage areas.
Hook Head in Co Wexford, where abundant fossils are exposed in the low cliffs, is being constantly raided by thieves using crowbars to prise off sections of the rock-face.
"It is a serious problem with unscrupulous people taking fossils away, but the local people have become much more protective of them."