Fans of Rainbow's End Pirate Ship hoping the ride will live on elsewhere are out of luck, with the theme park's management saying it will be scrapped not sold.

After 34 years of thrilling Aucklanders, it was announced today that the Pirate Ship is being jettisoned for a new attraction.

The theme park, owned by Rangatira Investments, said the ride would "swing its last swing" this month.

"The Pirate Ship has been a fantastic attraction that has spanned several generations," Rainbow's End chief executive Chris Deere said.

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"We have exciting plans for this area, so have decided that the time is now right to retire this ride and invest in an exciting new attraction."

Deere wouldn't reveal what the park was planning to replace the ship, which would be scrapped.

"We're not going to offer the ride for sale. It's a ride that's been in the park since 1984. It's book value is close to zero... a lot of the construction of the pirate ship is steel so we're hoping to recycle a bit of that steel," he said.

While some rides are designed to be moved, the Pirate Ship was built on site and would be difficult to relocate, he said.