The Coach and Horses, in Swan Hill was put up for sale in May by owner of 19 years, Ross Ireland, who is looking to retire, while manager Dean Morris - who has been at the pub since 1989 and manager for the last 20 years - also plans to slow down.
Contracts have now been exchanged between the current owner and the buyer.
The pub's last day open is set be Sunday, October 16, before it closes ahead of the completion of the deal later in the month.
"It's been a blast," he said who admitted: "I'm 33 years into the trade and it's taken its toll.
"I've been in five nights a week and every weekend, so it will be nice to meet my wife again and getting my life back to normal."
The Coach and Horses was first recorded in town archives in 1861, and still had a 'men only' bar well into the 20th century.
The Victorian pub has a wood-panelled bar, a small side snug area and a large lounge where meals are served. There is always a wide selection of local real ale.
It first made its appearance in the Good Beer Guide in 1975, and has been a regular entrant since.
The ground floor of the building - which also includes a flat above - is set to be rented out and offered as a pub or restaurant opportunity.
Anybody interested is invited to contact Halls Commercial.