CALDICOT School is set to get a new building following an investment of £31 million.
Caldicot School will undergo a full redevelopment as part of the 21st century school programme, jointly funded by the Welsh Government and local authorities.
Monmouthshire County Council (MCC) approved the submitted report at their full council meeting last Thursday (16th January).
In the report published for MCC, it is stated that the new school will provide teaching and learning environments suitable for the 21st century, and will be "an important catalyst in the regeneration of the Monmouthshire area and the development of better life chances for all."
Caldicot School's feeder primary schools will also receive funding for improvements and refurbishments.
Councillor Elizabeth Hackett-Pain said: "This project is not just about the building, it's first and foremost about excellent teaching. This is probably the most exciting thing that will ever happen in the council."
Councillor Giles Howard said: "Now it's on the verge of happening there's an overwhelming sense of relief."
Mrs Susan Gwyer-Roberts, headteacher at Caldicot School, said: "The Governing Body, pupils and staff are delighted that Monmouthshire County Council has shown its commitment to Caldicot School, to prioritise the new build for us first.
"Having secured a good inspection report, the site development will ensure that our ambitious plans in the school's Corporate Development Plan will be realised."
Feeder schools for Caldicot School receiving funding are: Undy Primary, Rogiet Primary, Castle Park Primary, Archbishop Rowan Williams Primary School, Ysgol Gymraeg Y Ffin, Dewstow Primary, Magor VA Primary School and Durand Primary School.
Monmouth Comprehensive School will also receive a brand new building following an investment of £33 million, primary schools in the area will also receive £3.9 million for refurbishment and school improvements.
Both comprehensive schools are set to open in 2016.
A further two comprehensive schools will also get new buildings in 2018, to spread the cost with the programme manager of the 21st century school project, Simon Kneafsey, stating that rebuilding four new comprehensive schools would be a strain on services overseeing the projects. The two other secondary schools to receive new buildings are: Chepstow Comprehensive School and King Henry VIII Comprehensive School.