The clubhouse of Sean Dolan's in Creggan was destroyed in a fire in the early hours of 28 December 2011.
The PSNI were disciplined in 2014 after a Police Ombudsman investigation found officers had failed to properly investigate the blaze.
The club said it is now looking forward to a new era after a Â£800,000 investment.
Founded in 1942, vice chairman Mark McCleary said the club's very existence was under threat following the arson attack.
"We had nothing, our pitch was overgrown, we didn't have changing rooms, we had to travel even to train and every match we had to play away from home for four years.
"Definitely a few times we thought we would just throw the towel in," Mr McCleary said.
The club lost its entire underage structure and has been surviving with just one senior team.
Police had initially concluded that the fire was caused by an electrical fault.
However, they later issued a statement sayingit said they were now treating the fire as arson.
After a difficult few years,  club secretary and life-long member Danny Cassidy believes the future looks bright.
"It will take about five years to get back to where we were before the arson attack. It's not an easy task," Mr Cassidy said.
"We're under no illusions but this club belongs to the Creggan community and they're delighted to see the club up and running again.
"We're very proud of this area and it's great to see something that is going to enrich the Creggan community," he added.
The new facilities include a state-of-the art changing room and clubhouse area, as well as a new pitch.
A Derry GAA club which was burnt to the ground in an arson attack five years ago is set to re-open this weekend.