Rescue officials said the museum would showcase how the operation unfolded in the Tham Luang cave, adding that it would be a "major attraction" for Thailand, reports the BBC.
At least two companies are also looking to make a film telling the story of the rescue.
The rescued group are all now recovering in hospital.
Video has been released showing them in good health, though they will stay in quarantine for a week.
The Thai Navy Seals have also published dramatic footage of the operation itself, showing how expert divers navigated the Wild Boar football team through the perilous journey to the surface.
The area is largely undeveloped with only limited tourism facilities.
"The area will become a living museum, to show how to operation unfolded," Narongsak Osottanakorn, the former governor and head of the rescue mission, told a news conference.
"An interactive data base will be set up. It will become another major attraction for Thailand."
The 12 boys and their coach first made their way into the cave on the June 23, but found themselves trapped inside after heavy rains poured down and caused the cave to flood.
They were found by British divers after nine days, and were eventually rescued days after in an operation that involved dozens of divers and hundreds of other rescue workers.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)