A former military airfield within the Snowdonia National Park is to be taken over by a private company.
The airfield covers 563 acres and overlooks Cardigan Bay
The new operators already run Kemble Airport near Cirencester in the Cotswolds.
Llanbedr Airfield near Harlech, Gwynedd, has been offered on a 125 year lease by the Welsh Assembly Government, who acquired it in 2006.
The airfield was built in 1938 and was used during World War II. It was closed in 2004.
Ieuan Wyn Jones, minister for the economy and transports, said the Kemble team had an established track record of successfully operating a private airport as well as a business park.
"We were looking for an operator that could successfully bring a disused and decommissioned military airfield back into commercial use, and to maximise the economic benefits to the local community," he said.
The airfield has a number of aircraft hangars, offices and a control tower
Kemble airport manager, David Young, said the team wanted to use their experience in the Cotswolds to "generate economic activity in Llanbedr".
The new operators are planning an open day and mini airshow on 20 August.
"We think it would be a good way to launch Llanbedr as a civilian aerodrome by opening it to the public," Mr Young said.
The Kemble team are also behind a small business park at the former US submarine listening base at Brawdy in Pembrokeshire.