The chimneys have to be knocked down and rebuilt by 2016 because the 103-metre towers are deemed a danger to the public.
The combination of sulphurous emissions and exposure to the weather has meant the steel reinforcements in the chimneys are corroding and the concrete cracking and disintegrating.
Following surveys and testing by experts it was found that any refurbishment of the existing chimneys would only be a short-term fix and not prevent the chimneys from continuing to deteriorate.
Battersea Power Station Development Company (BPSDC), who will knock down and rebuild the four chimneys, have published an informative video online explaining exactly how they will complete the difficult task.
They have agreed with English Heritage and Wandsworth Council that the chimneys will be dismantled and rebuilt using the same techniques and materials.
Work will start this summer on the south west chimney as it is the oldest one and has been the most exposed to weather conditions.
Property valuing more than £600m in total has already been sold inside the iconic building and recently plans were revealed for 254 homes with prices ranging from £800,000 to £4m.
Phase Three of the iconic building was announced earlier this month which unveiled designs for a trendy new high street connected to the Northern Line extension and the construction of 1,300 homes.