Cabinet has given the green light for an extra bank holiday on March 18th this year, as well as a permanent new bank holiday from February 2023.
This year's extra day will be a 'once off' public holiday this year.
It means there'll be an extra-long, four-day St Patrick's Day weekend, beginning on Thursday March 17th.
The Government says March 18th will be a "Day of Remembrance and Recognition, held in memory of the more than 9,000 people who have died on the island of Ireland with COVID".
Those who can't take the day off will be entitled to a day off in lieu or double pay.
There will likely be a State commemoration over the St Patrick's Day weekend to remember everyone who died during the pandemic
— Seán Defoe (@SeanDefoe) January 19, 2022
It's also been confirmed there'll be a permanent extra bank holiday from 2023 onwards, with the date falling around St Brigid's Day (which falls on February 1st).
That means from next year there'll be a bank holiday will be on the first Monday of February - starting with February 6th 2023.
Ministers today also approved a once-off, tax-free €1,000 pandemic bonus for frontline healthcare workers who were in COVID-19 exposed clinical settings
Today's announcements come after Leo Varadkar earlier this week said there were plans for a permanent additional bank holiday, to bring Ireland more in line with other European countries.
Mr Varadkar today said the new public holiday will be the "first Irish public holiday named after a woman".
The new public holiday will bring the total number of annual bank holidays in Ireland to ten.
Additional reporting by Stephen McNeice