Its guidance said it should be used for a maximum of two years.
About 50,000 NHS patients in England could be prescribed Wegovy, an NHS spokesperson said.
But the drug is in short supply.
Wegovy manufacturer Novo Nordisk said it expects supply “to be constrained for the foreseeable future”.
A “proportion of available supply” has been allocated to NHS services.
“We will continue to work with healthcare professionals to help ensure that patients with the highest unmet medical need are prioritised,” the company said.
The drug will also be available privately, but the manufacturer has not disclosed how much this will cost.
In the US, the drug sells for as much as $1,350 (£1,070) a month.
The NHS has also been urged to use virtual platforms to prescribe weight loss drugs in future.
In draft guidelines, NICE recommended the use of four online platforms that allow specialists to provide virtual care to obesity patients, saying face-to-face settings were unable to meet demand.