McFarlane, from the Ardoyne area of north Belfast, was known for taking part in the biggest escape in UK prison history.
He was sent to Maze Prison after being convicted of a deadly bomb attack on a pub in the Protestant Shankill Road area in 1975.
Sinn Fein MLA Gerry Kelly is set to deliver a graveside oration at Milltown Cemetery later.
They used smuggled guns and knives to overpower prison staff before hijacking a food lorry and driving to the main gate.
The funeral of former senior IRA man Brendan “Bik” McFarlane is to be held.
