The Bedford Sixth Form - affectionately known as Hogwarts - is one of only 39 centres in the UK to win a share of £83 million from the Government.
£3.3 million will go to Bedford, aimed at future proofing education for those aged over 16.
The money will help upgrade facilities in the Victorian building in Bromham Road - previously the Harpur Trust High School.
Some of the heritage classrooms will be refitted, a new science lab be will installed, a common room provided and the Lecture Theatre will be upgraded.
The sixth form - part of The Bedford College Group - is exclusively for the over 16s and offers a wide range of A-level and diploma courses, acting as a stepping stone between school and university.
Helen Smith, head of The Bedford Sixth Form, said: “We are really excited with the opportunities that this investment brings for the students. Our fabulous building will be further developed to create more flexible learning spaces.”