Kent County Council has struck a deal with Sundridge with Ide Hill Parish Council to take over the ownership of Stubbs Wood near Sevenoaks.
Last year, Kent County Council decided to dispose of Stubbs Wood at Ide Hill from its country park portfolio, as part of an efficiency drive.
For KCC, the site did not attract a large number of visitors, generated no income and incurred costs to ensure the site was looked after and safe for visitors to use.
The woodland has a number of restrictive covenants which limited its potential future use, alongside a network of public footpaths, which need to be retained.
KCC Cabinet Member for Environment and Transport Matthew Balfour said: “In our initial consultation, there was enormous opposition in the area to the site being ‘sold off’.
“We are pleased to announce that an agreement has been made with Sundridge with Ide Hill Parish Council for them to take on the freehold of the site and to continue to manage it as public open space into the future.
“The legal part of this arrangement is just starting, so it may take a few months to fully come into effect, but we are happy it will remain a woodland for people to enjoy for years to come.”
The Site of Special Scientific Interest is home to numerous rare animals and plants and is popular with local people for its superb views over the Weald and Bough Beach Reservoir.
Chairman of the parish council John Jolley said: “This is great news and I am absolutely delighted for the local community and everybody else who derives enjoyment from the Wood.”