The improvements will see the modernisation of the Marr College building and the development of new accommodation.
Funding has been secured, in principle, from the Scottish Futures Trust (SFT), through Phase 3 of the Scottish Government's Schools for the Future Programme.
SFT are to provide two thirds of the costs while the Council will meet the remainder.
The news follows a bid in June 2012 to Holyrood for funding from the School for the Future Programme.
Marr College currently has a roll of 1,064, but new housing developments, particularly in northeast Troon, have created a projected increase to 1,400.
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Consultation with parents, pupils, staff and the community has already taken place regarding the shortcomings of the existing facilities and accommodation.
Construction is expected to begin within 18 months from 27 September 2012, with work on-site due to commence 1 April 2014.
The design will be subject to further consultation. It is thought the new facilities at Marr College will be ready for occupation in 2016.
Councillor Margaret Toner, Lifelong Learning Portfolio Holder for the Council said: "This will be a fully integrated community and learning campus, fit for the 21st century, providing a learning environment that we can be proud of and pupils, local community and staff will benefit from.
"The College is a community facility where people return to educational, recreational or physical activities in the evenings to learn, socialise and enjoy the company of others.
"Marr College lies at the heart of the community in Troon and I know that the school will go from strength to strength in the future in a specially designed learning environment."
(IT)
