A Christmas icon will be spending the summer in hibernation.

It's been announced the famous Whitcoulls Santa and his reindeer won't be installed on the Queen Street bookshop this year, The New Zealand Herald reports.

Heart of the City chairman Terry Gould made the announcement at the business association's AGM tonight.

He says they can't justify the almost $200,000 cost this year.

The big Santa began life in 1960 on the Farmers department store in Hobson Street - now the Heritage Hotel.

After a brief stint on the Manukau City mall in the 90s, he ended up at Whitcoulls in 1998.

Santa received an extensive makeover in 2009, removing his oft-described 'creepy' wink and wagging finger.