The woodland covers 57 acres near the River Ant
Pigneys Wood near North Walsham has been awarded funding to create new facilities for children and improve the walkways and picnic area.
The charitable trust which runs the green space is getting a grant of £47,350 from the Big Lottery Fund.
The woodland covers 57 acres and is a designated local nature reserve in Knapton near the River Ant.
Planned improvements include widening the pathway and improving access for pushchairs and wheelchairs.
The grant means a new pond-dipping platform will be created for children to use along with three new signposted walks.
Pigneys wood trustee, David Gosling said: "We already have school trips and we hope the new facilities will mean more children will get to use this fantastic learning experience."
The money also means new man-made ponds will be built to increase the amount of wildlife in the area including birds like snipe, redshank and kingfishers.
Mr Gosling said: "This gives us an opportunity to do projects we haven't had the manpower or money to do. I love it when I see something like the barn owl. It makes me realise we're doing the right thing.
"If we backed off it would fall into disrepair and we'd have to sell it. It's a nice green area for the town, it's well used and it's a social space."
The work should start in the next few months and finish by the end of 2010.