The Heritage Lottery Fund and Big Lottery Fund have awarded £2.2m to Manchester City Council and a community group for the restoration of Alexandra Park in Whalley Range.
Work will include opening up the Pavilion to overlook the lake, creation of offices and community space in Chorlton Lodge and reinstatement of oval lawns and historic features of park, which opened in 1870, such as the water fountain and flagstaff.
Cllr Mike Amesbury, executive member for culture and leisure, said: "Our proposals were shaped by a People's Panel and public support was crucial in the success of the bid. This funding, even more welcome in the current difficult financial climate, will allow us to transform Alexandra Park into one of the region's finest outdoor spaces."
Paul Benson-Hannam, chairman of the Friends of Alexandra Park, said, "This is fantastic news and the result of nearly ten year's hard work by the council and friends group. This will make a huge difference to the local area and all the communities that surround it."