The EU mission released images showing its vessels accompanying ships to assist the Sounion, which flies the Greek flag.
The EU naval force has been ensuring a safe environment for tugboats to begin towing the tanker, a process seen as critical to preventing a potential environmental disaster.
The Sounion has been carrying over 1 million barrels of crude oil, and damage to the vessel has raised fears of a spill in the Red Sea, which could be far more catastrophic than the 1989 Exxon Valdez disaster.
The Sounion was initially attacked by the Houthis on August 21, and explosives were later planted and detonated onboard. The vessel's 25-member crew, made up of Filipinos and Russians, along with four private security guards, were safely evacuated by a French warship and taken to Djibouti.
Since the start of the Gaza conflict in October, the Houthis have claimed responsibility for more than 80 attacks on vessels using missiles and drones, alleging that they are targeting ships connected to Israel, the U.S., and the U.K. However, many of the attacked ships have no direct ties to the conflict.
Earlier salvage attempts were halted due to unsafe conditions, but the EU mission stated it is ready to assist in the new operation.
The tanker remains anchored off the coast of Hodeida, and while still burning, no oil spillage has been reported so far.