Southampton City Council, which owns the site affectionately known as 'the Rec', was given a charter which protects the ground from ever being sold off in 2012.
It was given under the QEII Fields challenge, a UK-wide programme that aimed to permanently protect 2012 outdoor recreational spaces as part of the Olympic legacy and the Queen’s Diamond Jubilee.
The Rec continues to beat as the heart of the community to this day - and will host the special event in May.
The bash, which is free to attend, will feature music and games and walking football put on by Active Nation.
The celebration has been funded by the Big Lottery Fund and is being hosted by Friends of Portswood Rec, Portswood Dementia Action Group and Carers in Southampton.
It will be held on May 13, from 11am to 4pm.