Tibshelf Canter Track was originally built by Derbyshire County Council in 2007. However, it closed 18 months ago because the woodchip surface deteriorated quite quickly and was too expensive to constantly resurface.
Now the 300 metre-long stretch, which runs alongside the Five Pits Trail has been resurfaced with an all-weather track.
The Five Pits Horsewatch group has agreed to help the council manage the route which will include promoting and policing appropriate use as well as contributing towards the maintenance costs of £1,000 a year.
BHS Derbyshire, who have supported the project has organised a donation of £250 from Derbyshire Horse and Pony Trust.
Councillor Simon Spencer, Derbyshire County Council's Deputy Leader and Cabinet Member for Highways and Transport, said:
"The old canter track was a victim of its own success. It was well-used, but this meant regular repairs were needed to ensure the safety of the horses and their riders.
"We want everyone to be able to enjoy our countryside sites. The new all-weather track is a more hard wearing and sustainable surface which allows riders to give their horses a good run out alongside the Five Pits Trail in a designated area away from environmentally sensitive spots and with no risk to the safety of other countryside users."
The next phase of the project will be to open up a nearby woodland plantation to create an un-surfaced woodland route that connects the beginning and end of the canter track.
The woodland work will be carried out by the county council and members of BHS Derbyshire and Five Pits Horsewatch group.