Children from Blackfriars Primary, in the Gorbals, have spent the last two years working hard to raise the cash.
The plan was to transform an old cloakroom into a state-of-the-art "learning park".
Head teacher Sandra McLeary said: "Our main reception area was an amazing space, but was taken up with an archaic cloakroom consisting of metal poles, wooden batons with metal pegs and a metal cage to enclose half of area.
"It was not inspiring at all.
"To raise self-esteem, the ethos of the school and prepare our children to take their place as effective citizens of the 21st Century, we decided to see if there was any possibility of changing this entrance into a modern, inspiring area which would encourage children to learn."
The idea of the learning park was born - but the much-needed library and computing suite would cost £50,000.
Pupils set themselves the challenge of raising £20,000 towards the cost.
For the past two years they have been bag packing at local supermarkets, held a health week and arranged events such as a mobile adventure course day.
Now they have new computers, iPads and a library.
And they are already using the suite and the new equipment to make animated films.
And the primary fives have been using their new computers to have video chats with their peers in Poland and Turkey.
Funding for the equipment also came from Glasgow City Council, grants and through work in kind by local businesses.
Ms McLeary added: "The pupils are very excited about their new equipment and I am really proud at how hard they have worked to achieve it.
"We want our pupils to have the same opportunities as other young people and to be fully prepared for going out into the world.
"The new equipment includes computers and software that will allow that to happen.
"It's a dream come true."
Councillor Stephen Curran, Executive Member for education and young people, said: "This is a marvellous new resource for the children and staff at Blackfriars.
"Congratulations to every- one who helped raised the staggering amount of £20,000 towards the total cost of the refurbishment and I know that the media suite will now be one of the busiest areas in the school."