The Nightingale Hospital in London is expected to be placed on standby in the coming days, and will no longer be admitting patients.
The hospital, which opened on 3 April with 4,000 beds to treat Covid-19 patients, could resume operations again if needed.
Fewer than 20 patients are being treated there at present, the BBC understands.
Staff will be redeployed, but some equipment will stay at the hospital.
In a briefing to staff, Charles Knight, CEO of the Nightingale London, said: “Thanks to the determination and sacrifice of Londoners in following the expert advice to stay home and save lives we have not had to expand the Nightingale’s capacity beyond the first ward.
“As the Prime Minister has said, we are now past the first peak in coronavirus cases and the NHS is therefore moving into the second phase of its response to this global pandemic.
“It is likely that in the coming days we will not need to be admitting patients to the London Nightingale, while coronavirus in the capital remains under control.
“As a result, after the last of this our first group of patients leaves, the hospital will be placed on standby, ready to resume operations as and when needed in the weeks and potentially months to come.”