At a high level, the plan is:
Compare SharePoint Online options
i.e. at SSW we use Sharegate
Install the migration tool
Migration tool - Configure connections to your source and target SharePoint site collections
Migration tool - Migrate your content
Structure migration and content (dry-run)
Analyse result reports
Fix potential errors and warnings (repeat until you get to zero - see rule #2)
Structure migration and content (for real)
Remove permissions on your on-premises SharePoint site(s) and give access to SharePoint Online
After a week, decommission your on-premises farm