The shock announcement was made by council chiefs during the official opening of Sutton's £16m Lammas Leisure Centre on Saturday.
They say they will now throw open the community-boosting plans to the public for consultation and hope to have firm plans in place by next spring.
- Dame Kelly opens new £16m Lammas Leisure Centre
The determined campaign to build a pool in Kirkby has been rumbling on since 1935.
In 1977 the local authority promised to make substantial funding available to complete the project, but failed to provide the cash injection.
Ashfield District Council leader Jason Zadrozny said: "The people of Kirkby have been promised their own pool for many years.
- Paralympic gold medal winner backs Kirkby swim pool plan
"I am delighted to be able to announce that we are going to deliver on this promise and finally give the people of Kirkby what they want.
"This is part of our overall aim to give Sutton, Kirkby and Hucknall fantastic council facilities for years to come.
"In 2012 and future Olympics it is our hope that more of Ashfield's residents will build on what Sam Hynd achieved and bring back medals from the Olympics.
"Facilities like Lammas Leisure Centre and a new pool in Kirkby will help aspiring sports stars achieve their dreams. I am very proud of what this council is achieving."
The plans have also been backed by Kirkby councillor Rachel Madden who told Chad it was fantastic news for the town.
"I am very excited about this news,"she said. "The town needs something to aspire towards.
"We have seen what Sam Hynd has achieved and a pool in Kirkby can help put other people on the path to glory. He is a great example for the town.
"A project like this can also provide the spark for a much wider regeneration of Kirkby and give the town a big lift."
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