North Lanarkshire's Newmains Community Trust will receive a grant of £2.3m to create the building, marking one of the largest payouts ever made by the fund in Scotland.
The investment, which has been made through Big's Our Place programme, has been secured by the community following a public consultation.
This process identified a community hub as the investment which would make the biggest positive difference to the lives of people in the community.
John Harper, of the community trust, said: "We are delighted to have been awarded the grant to build a community hub, with a library and community cafe.
"We look forward to having a focal point with community activities."
Big Lottery Fund Scotland director, Jackie Killeen, said: "I'd like to congratulate the people of Newmains for their imagination, co-operation and hard work in securing this funding.
"The NCT has worked with support of the Coalfields Regeneration Trust to make sure that everyone in the community has had an opportunity to contribute to the development of a shared vision for the area."
NCT's Newmains Com- munity Hub project aims to provide a facility from which services can be run by, and for, commu- nity members to improve the social and economic life of the village and tackle local issues.
The five projects to receive funding from the Our Place programme include £1.6m which will see Renfrewshire Council use a grant of more than £1m on Knockhill Park Development.
This will develop an under-used green space into a vibrant community park for use by all.
The park will have a refurbished grass pitch, changing facilities, a fitness trail, play areas and a dog agility area.
Renfrew's Williamsburgh Housing Association will use a £596,459 grant to create a community gardening space.
Other projects include a community garden and dynamic activities space for 300 users in Bellsmyre, West Dunbartonshire from a £246,892 grant.
Rosemount Lifelong Learning in Glawgow's Royston will create a multi-purpose community centre thanks to £1.1m grant which will see a two-storey extension added to their Royston Road premises.
And a derelict space in Greenock will be turned into a safe, outdoor community play zone as Greenock Central Residents Action Group gets a grant of £193,543.