Sea Lanes Brighton, a group of local businesses and open-water swimming enthusiasts, will run the lido off London Road along with South Downs Leisure.
Judit Kollat, the lido’s general manager, said: “As Hilsea Lido celebrates its 90th birthday, we are proud to be leading the next chapter in its history.
“It is more than a pool, it’s a place with history and heart.
“We aim to create a vibrant hub for the local community, a centre for both mental and physical wellbeing. The lido will offer something for everyone.”
A long-term sustainable heating solution is set to be looked into.
The renovation has been led by Portsmouth City Council and funded by the government.
