Decorations are expected to be completed by Dec. 15 and the tree will be illuminated on Dec. 18.
"I am looking forward to Christmas day," a student sightseeing at the square said. "I want to greet the New Year with my family here," she added.
Earlier this month, Ukrainian police cleared an encampment on the same square, acting on a court order, after tax protesters, who set up dozens of tents on the square, refused to leave after parliament approved a compromise proposed by President Viktor Yanukovich.
Protests in the capital and other cities across the country started on Nov. 16 as parliament began discussing the tax code proposed by the government.
The tree, a festive symbol of New Year, will be decorated by accessories ranging from Soviet-era toys and national motifs.