Telford and Wrekin Council has granted planning permission for the gates, near Roving Bridge, to be hung.
Shrewsbury & Newport Canals Trust and Newport Town Council say a meeting will now be held with the principal contractor to move the project forward.
Borough and town councillor Tim Nelson, said it was hoped the gates cold be put in place in the open position this summer.
He said: "When complete this project will draw attention to the canal in Newport by enhancing the built environment by making the lock look more like a working lock and re-emphasising the importance of the bridge in the context of its proximity to the canal.
"Care has been taken to ensure that the historic stonework will not be disturbed, all fixing being done into the lock infill although existing metalwork will be used to fit the gates' collar."
They have been donated to the scheme by the Canal and Rivers Trust.
"They are full size gates taken from Lock 10 on the Audlem lock flight of the Shropshire Union Canal. They will be cut down to size and fitted by contractors."
Councillor Nelson said: "I had the idea of putting gates back on the lock over four years ago. It has taken a lot of work, persuading people it was worthwhile, getting Newport Town Council to provide funding, working with Telford & Wrekin conservation and Heritage England, and obtaining planning permission."
He said that the lock gates were only part of the vision.
"We would like to see considerable towpath improvements, including lighting, the restoration of the Black Shed and even put a boat on the town basin."
"The gates project is becoming reality from just a dream, so it shows what can be done.
"My thanks go out to all those generous souls who showed their support for this fabulous project, but most of all to Shrewsbury and Newport Canals Trust, Newport Branch chairman John Myers the joint project leader and resident canal expert, who has done and continues to do the hard work."