If Ireland votes in favour of repeal, the government has said it will introduce legislation permitting unrestricted abortion during the first 12 weeks of pregnancy.
Currently, terminations are only allowed when the life of the mother is at risk, and the maximum penalty for accessing an illegal abortion is 14 years in prison.
Since 1983, an estimated 170,000 women have left Ireland to have terminations, and up to 2,000 women each year illegally take the abortion pill, accessed online, the Guardian reported.
Prime Minister Leo Varadkar, said: "This referendum is about asking our citizens to allow women to make major decisions for themselves. It's about trusting women to decide, in the early weeks of their pregnancy, what's right for them and their families..."
The bill will be debated in parliament over the next 24 hours, and full details will be published on Friday.
Extra time has been granted to keep the Irish parliament open on Friday to allow for extended debate on the referendum proposals.