The Friends of Wem Pool charity have been given a 20-year lease to run the pool using funds from the town council.
Volunteers have been working for two years to refurbish the pool and gym, which they will run as a community facility.
The group stepped in in 2012 when a leisure company said it no longer wanted to run the pool.
A Shropshire swimming pool saved from closure by a group of volunteers has been officially reopened.