The modern 500 was launched in 2007, and although it has received new engine options, countless special edition variations and various upgrades over the years, this will be the car's first true makeover since launch.
With so much disguise applied to the car, it's hard to tell quite how extensive the facelift will be.
At the front, it looks like there the updated 500 will sport a new front bumper with different air intakes and remodelled auxiliary lights.
Out the back, the facelifted 500 will feature new look tail-lights with horizontal indicators underneath enlarged braking and driving lights. There will also be a new bumper with fog-lights, reversing lamps and reflector strips at the outer corners.
Our spies also managed to snap one photo of the car's interior. Aside from the seats, which have prominent 500 logos stitched into the fabric, it's hard to see what changes Fiat has in store.
It's clear, though, the basic architecture of the dash will carry over largely unchanged, with a protruding central pod housing the gear shifter, and an expanse of body-coloured plastic providing contrast and character.
The revised Fiat 500 may make its debut as early as the Frankfurt motor show, which takes place in September.