The social networking site's founder Mark Zuckerberg revealed Facebook is working on the feature following years of requests for the function.
He said users of the site wanted to express feelings other than 'liking'.
Zuckerberg gave examples of times when users might like to 'dislike' posts, such as when people post about family members who have died.
As reported by business insider.com, Zuckerberg told a question and answer session at Facebook's headquarters: "I think people have asked about the dislike button for many years.
"Today is a special day because today is the day I can say we're working on it and shipping it."
Zuckerberg said he believes users of the site don't want to use 'dislike' to be negative towards other people.
He said: "What they really want is the ability to express empathy."
He said Facebook had been working on the feature for some time and was hoping to launch it in the near future.
No date was given for when it would be available.