The iconic tally board from the former national tally room, previously used for federal elections, will become part of history at Old Parliament House.
However, the Museum of Australian Democracy will not have space to display the entire board which is 37 metres wide and seven metres high.
Each of the 28 sections has nine rotating panels where staff manually updated results. In earlier years, the tally board was the most immediate form of communication of election results.
The huge board was a familiar backdrop at Exhibition Park on election night as newspaper, radio and television journalists reported the results.
The board was built when the Australian Electoral Commission shifted the national tally room from the Belconnen High School to the Budawang building for the 1980 election, won by Malcolm Fraser.
The tally room was discontinued after the 2010 election, with the AEC website displaying immediate updates on the election night counting.
Kate Armstrong, the museum's manager of content development, said the museum was hoping to display some panels of the board.
"We've got this wonderful tally board, this enormous looming presence from the past, sitting there patiently providing its information in a way that has become outdated," she said.
"The issue for us is where would you put such a massive object, so if we were to display it in future, and we'd very much like to, I think it would be some of the sections."
The revolving panels which displayed results in a "game show style" may be used as part of an exhibition on voting.
"I don't see societal changes marking the end of raucous election night parties but the practice of sitting with family and friends in front of the TV viewing results broadcast live from the national tally room, or even visiting the national tally room on election night, is past," Ms Armstrong said.
Museum director Daryl Karp said the discontinuation of the national tally room marked a significant cultural and social shift in the way Australians engage with democracy and elections.
"Historically the national tally room was buzzing on election night and served as a central place for information for the media, politicians, international observers and the public," she said.
"However, the manual posting of results on the tally board is no longer relevant to the way Australians expect to receive and process information.
"Our Power of 1: Does your voice count? exhibition research has shown that more and more Australians are expecting to engage with information about democracy online, and want to engage with democracy on their own terms."
