It's aimed at helping the red knot, a threatened migratory shorebird that feeds on the crabs' eggs as it passes through the Delaware Bay.
Corzine's set to sign the ban into law this afternoon at a Statehouse ceremony.
The ban is backed by environmentalists, who say the bird's population has been dwindling as the eggs have become more scarce. They fear it could soon go extinct if they don't get protection.
But fisherman who harvest horseshoe crabs for use as bait oppose the ban.
They say other factors – such as habitat destruction or global warming – may be responsible for the birds' diminishing numbers.
