Wakefield Council has revealed that the Hepworth Wakefield - one of the largest purpose-built art galleries built outside London - is to be run by an independent charitable trust.
Members of the council's cabinet approved the transfer of the attraction from direct local authority-operation to the trust, as well as the granting of leases at peppercorn rents.
Hepworth Wakefield will commemorate the work of Wakefield-born sculptor Barbara Hepworth, while housing the city's permanent collection of 6,000 art works.
Wakefield Council corporate director of regeneration and economic growth Andy Wallhead said: "In December 2009, the decision was made to operate The Hepworth Wakefield as an independent charitable trust which will allow it to access external funding."
Trust chair David Liddiment added: "I have assembled a strong board of trustees to govern this world-class art gallery and to ensure Wakefield becomes a major visitor attraction and a new world-centre for sculpture."