The Department of Education has now placed Casterton College Rutland in group two out of the three groups for schools who have received funding from the Government's School Rebuilding Programme.
Group two schools are currently expected to enter delivery from April 2025.
Alicia Kearns, Member of Parliament for Rutland and Melton said:
"I'm delighted for Carl and all the team and students at Casterton College who have now received a clear timeframe for the significant investment in their school rebuilding.
"I know how much this funding means to all the staff, students and their families and it will be truly transformative of this wonderful school. I'm delighted that together we've secured this funding and timeline.
"Our school children deserve the very best start in life to go on and succeed, and this funding will deliver the resources and facilities needed to foster this."
Casterton College was announced as one of the beneficiaries in the fourth round of the Government's £1.8 billion School Rebuilding Programme.
This Programme will carry out major rebuilding and refurbishment projects at 500 schools and sixth-form colleges over the course of this decade.