The Wood Green-based nursery now needs to create a partnership with a local not-for-profit organisation. Wolves Lane provides shrubs and bedding plants for borough parks and open spaces as well as for public sale, and training and employment for disabled people.
Volunteers work at the scheme, and local schools are regular visitors to the centre's nurseries, palm house, cactus collection and butterfly room.
The council took on the management of Wolves Lane after the charity Livability pulled out of the centre in August 2008.
Councillor Dhiren Basu said: "Wolves Lane is a valuable community resource and during consultation on its future there was a clear desire from the public to see the services maintained and improved for future use.
"I'm confident that the council will be able to identify a not-for- profit partner that can help inject renewed vitality into the centre."
Council leader Claire Kober visited the site this week. She said: "I'm delighted that we have found such a positive way forward."
A detailed business plan will now be prepared by the council to explore options such as working with the Sustainable Haringey Network to find a suitable not-for-profit partner. Proposals have also been put forward to use the centre as a hub for sustainable food production.