The free buses - two tomorrow night and two on Saturday night - will transport patrons from North Dunedin into the central city area from 9pm.
The initiative was "sold" to police by Otago University Students Association (OUSA) president Harriet Geoghegan.
"We want to manage this so students can celebrate the closing of a well-loved Dunedin pub and those still studying can do so with no fear of riot police on the street," Ms Geoghegan said.
As many as 1500 students and others are expected to descend on the Castle St pub, affectionately known as the Gardies, to mark its closure.
It has been bought by the University of Otago and its final day of business is Saturday.
The All Blacks v Wales rugby test match being held in Dunedin on Saturday evening is also likely to draw a big crowd into the area.
Inspector Dave Campbell, of Dunedin, said yesterday he could not remember police ever hiring buses for public use.
He did not know the cost of the bus hire.
"Whatever the cost is, if it helps prevent any trouble, it will be well worth it."
The North Dunedin student area has been the scene of unruly behaviour in the past.
The most recent incident was last year's Undie 500 weekend when police in riot gear faced verbal abuse and missiles from a crowd of more than 1000 in Castle St.
The fire brigade was also called on to put out illegal fires.
Fearing disorder, possibly rivalling the Undie 500, police earlier persuaded the Dunedin City Council to impose a temporary liquor ban in North Dunedin this weekend.
The Gardens Tavern has said it would not admit patrons after 7.30pm on Saturday and has hired additional security staff.
Castle St residents have also been briefed as part of Ms Geoghegan's initiative.
Members of OUSA executive, Campus Watch, campus policeman Max Holt and Fire Service officers spent most of yesterday visiting students living in Castle St.
They distributed leaflets advising them what events were being held at the weekend, what to do if unwanted party-goers "invade their front yard" and for what behaviour students could potentially get into trouble with police and the university.
Students had also been advised not to leave rubbish in their front yards which could be used to fuel fires, and to remove furniture from their porches.
The Dunedin City Council had agreed to carry out an extra rubbish collection in the student area tomorrow, she said.
