The fountain in Kintore Town Square will be operational once again later this year.
The granite feature had been damaged by vandalism and vehicle strikes, resulting in the loss of its top pillar.
Repair work was undertaken in 2015 to secure and stabilise the fountain, including a water tightness test, to ensure a full repair was viable.
Funding to fully repair it was recently provided by the Garioch Area Committee and the Kintore Common Good Fund.
A £30,000 contract has now been awarded to Aberdeen-based KW Contractors Ltd to bring the fountain back to working condition.
The work will include upgrading the plumbing and electrics to current standards, stone repairs and works to improve the existing road surface.
Once complete, the fountain will operate 24-hours a day from May to September.
Garioch Area Committee chair and local councillor for East Garioch, Fergus Hood, said: “The fountain is located in front of the historic Town House, occupying a prominent location in the Square and adding to the setting of nearby historic buildings.
“It has always been a popular feature and we are aware the community has been keen to see it brought back into use, so I’m delighted we’ve been able to find the means to repair it and look forward to people enjoying the fountain again later this year.”
Vice Chair, Dominic Lonchay, also a councillor for East Garioch, added: “Bringing the fountain back into operation has not been an easy thing for the council to do, but we feel it will ultimately be worth it.
“This has traditionally been an attractive feature of the town centre and it will be great to see it working again after such a long time.”