There is provided a method and system for management of Machine Type Communication (MTC) events. The system and method enables the detection of a state of the MTC event, correlating the state of MTC event with a Virtual Network Function (VNF) state of a VNF configured to mitigate the MTC event and transitioning the VNF to the VNF state which correlates with the MTC state. In this manner, the VNF can be in a configured and active state in advance of the MTC event reaching a critical state, thereby enabling mitigation of the MTC event prior to reaching the critical state.