Justice Minister Claire Sugden confirmed a motion will go before the assembly for approval.
The move will bring Northern Ireland in line with England and Wales, where plans for automatic pardons were announced last month.
Those proposals would see men convicted of now-abolished sexual offences receive posthumous pardons.
Dubbed 'Turing's Law', after the World War Two code-breaker Alan Turing, the law will also allow living men convicted of such offences to apply for a pardon.
The motion in the assembly is expected to contain the same provisions and allow for pardons both posthumously as well as for living gay and bisexual men.
The minister said she has secured executive agreement to ask the assembly to pass a legislative consent motion to pardon convictions related to abolished sexual offences.
Ms Sugden said that arrangements would be brought in "as soon as possible to ensure that there is equal treatment for gay and bisexual men here as for their counterparts in England and Wales".
"This is an opportunity for the criminal justice system to try and right the wrongs of the past and one which will allow for much earlier resolve than that presented by way of an assembly bill," she added.
The motion will now go forward for consideration by the assembly.

The shooting appears to be the latest murder in an on-going gangland feud.
The man, who is in his mid-30s and originally from County Tyrone, was shot in the Sunset House bar near Croke Park at about 21:30 local time.
His name has not been released, although it is believed he was known to GardaÃ­ (Irish police) for involvement with dissident republicanism.
A burnt-out car, believed to have been used in the shooting, was found nearby in the Drumcondra area.
GardaÃ­ are keeping an open mind about who murdered the man, but are not ruling out the possibility that the killing is linked to an on-going gangland feud.
The violent dispute between the Hutch and Kinahan gangs has so far claimed the life of five men.
In February, a man was killed in a hotel that was hosting a weigh-in for a World Boxing Organisation fight in the city.
Days later, another man was murdered in what police believe was a reprisal for the Regency Hotel attack.

Humberside Police, said Darren Lee Barton was assaulted outside the Rutland Arms on Saturday.
He was taken to the Diana Princess of Wales Hospital in Grimsby after the incident at about 18:00 BST, but died on Wednesday evening.
Nathan Newland, 27, appeared before Grimsby and Cleethorpes Magistrates' Court on Tuesday charged with section 20 wounding and producing cannabis.
He was remanded in custody until 22 August when he is due to appear at Grimsby Crown Court.
Police said a post-mortem examination had yet to take place to establish the cause of death.

Dozens of others remain in critical condition after the fire, apparently caused by fireworks set off by a heavy metal band.
Officials say it is possible the number of fatalities could double.
The news came as thousands marched silently through the Romanian capital in memory of the victims.
People carried flowers and lit candles at a memorial outside the nightclub.
Romanian President Klaus Iohannis has said safety regulations seem to have been ignored at the club.
The fire broke out at about 23:00 local time (21:00 GMT) on Friday at the Colectiv club, which was hosting a free rock concert by the band Goodbye to Gravity. Up to 400 people are thought to have been inside.
Survivors say the fireworks caused the ceiling and a pillar to catch fire and produce heavy smoke.
A stampede for the exit followed. More than 140 people are being treated in hospital, some with severe burns.
On Sunday officials said all of the dead had been identified.
Romania has declared three days of national mourning.
Gay and bisexual men convicted of abolished sex offences in Northern Ireland look set to be pardoned.
[NEXT_CONCEPT]
A man from Northern Ireland has died following a shooting in the north side of Dublin city on Monday night.
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A 46-year-old man has died after he was attacked outside a pub in Grimsby.
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Two more people have died of injuries sustained in Friday's Bucharest nightclub fire, doctors say, raising the death toll in the disaster to 29.