The Barracks- the headquarters of the Army's North West operation, as well as being home to The Duke Of Lancaster’s Regiment, 3 Medical Regiment and the Lancashire Infantry Museum, will now not close until 2030, the Ministry of Defence (MOD) confirmed to the Post.
In 2016, it was announced that the Barracks was too big and costly to run, and was one of 56 MOD stites to close by 2022.
>>>Read the reaction to the closure announcement here.
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But in 2019, it won a five-year stay of execution until 2027, with the MOD claiming it was an "Updated disposal date following detailed work to assess the optimum laydown required to support operational capability."
>>>Click here to read what the Government said in 2019.
No reasons have yet been given for the latest extension, which came hours after Defence Secretary Ben Wallace - who is also Wyre and Preston North MP - announced a restructure of the army, which involved more reliance on technology, reservists and the formation of a new Ranger unit.
The work done at Fulwood Barracks will not be affected by the restructure.
The news about the barracks has been hailed as "fantastic" by those closely associated with it.
Colonel Mike Glover, trustee of the Lancashire Infantry Museum which operates out of the Barracks, said: "It's fantastic news.
"The Barracks is an important part of Preston's heritage.
"It has been the focus of Preston's contribution to this nation in two world wars and continues to be."
Garrison ward councillor Peter Kelly said: "From a ward perspective, it's brilliant.
"They do an amazing amount of work there, including a lot of work with veterans.
"It's very much part of the heritage of the city and lets hope they review it again."
In a House of Commons report, the 16.65 hectare barracks is still earmarked as a site for 330 houses after 2030.