The nest, measuring about 2m wide and 2m tall, was found bordering a lifestyle block in early March.
At the time, Bay Pest Services owner-operator Chris Brunel said it was the biggest nest he had seen in 30 years.
He said the nest belonged to German wasps; a species that was particularly nasty and aggressive.
The nest has been poisoned at least three times as Brunel struggled to kill the stubborn wasps.
Earlier today Brunel told the Rotorua Daily Post he was in "holding mode" over its removal after he said the Bay of Plenty Regional Council questioned whether it needed to be removed if it was dead.
"We can't leave it there because it will deteriorate and fall off and it's not far from a stream that runs into Lake Rotorua.
"The worst case is it could fall out and crash across the track or go into the stream."
"We are 90 per cent sure all of it is dead but it's not something we want to take a risk with.
"We'd like to finish it off properly."
The Bay of Plenty Regional Council's Rotorua catchments manager Helen Creagh said "following a discussion with the contractor today it has been mutually agreed that the removal of the dead nest will not be required".
Creagh said the regional council would continue to monitor the nest to make sure it didn't post a threat to the local stream.
In the regional council's statement, it said the contractors would do the final insecticide treatment today to ensure the wasp nest was dead.
The regional council supports a local care group in the area with funding for pest control, weed control and planting and was first told about the nest on March 4 as it posed a health and safety risk to the local group.
The local group contacted Brunel to exterminate the wasp and larvae and the regional council has not yet received a final invoice from the care group.
