The £20.6m modernisation will see the canal-side venue get a new showcase entrance straight from Brindleyplace into the arena, with large glazed views over the water and the city.
Work is due to get underway later this year and will also include improved facilities and a greater emphasis on both the pre and post show experience.
The news follows the announcement of a five-year sponsorship deal between the NEC group and Barclaycard, who will become the payment partner for The Ticket Factory, the LG Arena, the National Exhibition Centre (NEC) as well as naming rights partner at the National Indoor Arena (NIA).
Once the refurbishment is complete, the venue will become known as the NIA, A Barclaycard Unwind Experience.
Phil Mead, managing director of arenas, said: "This decision is extremely positive, and we can now realise our ambitious plans to improve this important world-class Birmingham venue, in line with council’s Big City Plan.
"Whilst the NIA is a key national as well as regional venue, it has been over two decades since any modernisation has taken place, and unfortunately this once great building is showing its age and needs improvements."
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