The project will be carried out by Strathleven Artizans, a group which promotes the historical links between the Scottish King and the village of Renton in West Dunbartonshire, which was home to Bruce and his family from 1326-29.
It will be constructed from timber from across Scotland including wood from Scone Palace, where he was crowned; Turnberry, where he was born, and the battlefield at Bannockburn.
The throne will also feature wood saved from the Bruce Oak, one of the largest and oldest trees in Scotland until it fell, following a fire, in 2005.
It stood on the Strath- leven estate, which was owned by Bruce around the time the tree was a sapling.
The design of the throne will be based on the king's seal, which shows him sitting on a throne with clawed feet and the carved heads of four mythical beasts facing north, south, east and west.
The recreated throne is due to be unveiled in time for the 707th anniversary of Bruce's coronation on March 25. The Strathleven Artizans plan to use the throne as an educational tool in schools.
The project is a collaboration between the group and Historic Scotland, which will assist with the traditional craft skills needed for the project.
Duncan Thomson, chairman of Strathleven Artizans, said: "We have worked since 2006 to promote Robert the Bruce, his family and the period in which he lived in our area.
"Robert the Bruce's story has captivated people for generations.
"The process of reconstructing the throne promises to help bring that story to life.
"The finished product will be both a celebration of traditional skills and a tool for education."
David Mitchell, director of Historic Scotland, said: "I am pleased we are able to assist the Strathleven Artizans with this project.
"It is fitting the throne will be unveiled in time for the anniversary of Bruce's 1306 coronation."