People gathered on Victoria Dock to watch as Arctic Corsair was towed by two tugs to William Wright Dock on Wednesday evening.
The trawler will be restored before going to a permanent home in dry-dock at the North End Shipyard, a new visitor attraction on the River Hull, which will showcase her history as a deep-sea trawler.
In 1973, the ship, which was built in 1960, in Beverley by Cook, Welton and Gemmell, broke the world record for landing cod and haddock from the White Sea.
During the Cod Wars, the vessel was rammed by an Icelandic gunboat.
The restoration is taking place as part of the £30.3m Hull Maritime project, jointly funded by Hull City Council and The National Lottery Fund.
Adam Fowler, former chairman of fishing heritage group Stand, which saved her from the scrapyard 30 years ago, said she would be in the same spot in William Wright Dock where she was last dry docked in March 1994.
Arctic Corsair started her career fishing from St Andrews Dock, ending at Albert and William Wright Dock.
Mr Fowler said: “We saved her because she symbolised a way of life for Hull's former fishing community.
"She means a great deal to people because she means we never forget Hull's incredible fishing heritage."