The club moved to the new Liberty Stadium six years ago.
Work to clear Swansea Council-owned Web site has been made possible with the £ 700,000 regeneration grants from Assembly Government.
The local authority still struggling to find a developer to the Web site, which has been earmarked for housing.
Demolition of the stands, terraces and floodlights are likely to take between four and six months.
A planning application to landscape the site has been submitted and if approved, should be complete at the end of the summer.
The Council intends to landscape the area until a developer can be found.
But there have been calls for it to be used for assignments in the meantime.
Vetch was local football home from the time it opened in 1912 until its final game in 2005, when fans took pieces of binder turf or snatched seats as keepsakes.But as landmark is torn down, it is clear the Club's old home still hold happy memories for many people linked to its history.
Peter place, historian and lifelong Swansea fan said: "it was a remarkable land, an eccentric soil and a chaotic land.
"Vetch was fantastic, we loved it.
Some of the seats were ripped from fans eager to Grab souvenirer on the game's final 2005"Now here is the final demolition after 100 years of vetch is at the heart of Swansea soul".
Alan Curtis is now coach at Swansea, but played in the team's famous 5: 1 victory over Leeds in 1981.
He said: "it in a way always seemed to generate a fantastic atmosphere.
"I always seemed to spend more time than at home."
Professor Huw Bowen, enthusiast and author of a history of the club said the demolition was "a poignant, sad and moving experience".
' It was a dump but it was our dump, ' he says of the Earth.
Swansea supporter Marilyn Croft said driving past the site demolition had brought a touch of sadness.
"I know it's time to come down and there must be something else built there, but vetch will always be our spiritual home."
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