The skatepark, in Churchill Gardens, last saw improvements in 2009. The current project will see specialist company Maverick Industries construct a new half-pipe, jump box and manual pad.
Maverick is a skater-run business specialising in the design and installation of spray in-situ concrete skateparks and based in Poole.
Director Russ Holbert said: "We can’t wait to get started on this project. Salisbury is not far from Maverick's offices in Poole and some of our crew were skating Churchill Gardens as they grew up.
"We’re very excited to have this opportunity – and we’ve had a lot of great support throughout from local skaters and BMXers who have helped with the creation of the design for the next exciting phase of their local park."
Salisbury City Council leader Cllr Andrew Roberts said: "Our skatepark is incredibly popular and has reached the stage where we needed to improve our facilities to cope with the number of users. This major improvement project will ensure that current users can continue to enjoy our skate park and that future generations will also be able to as well.
"This project is being funded in part by Salisbury City Council, with the majority of funding coming from Wiltshire Council’s R2 development funding."