Council Executive have supported proposals for a five year lease to Reconnect, who plan to use the B-listed former cinema to deliver arts, music and drama related activities.
Reconnect are a charitable organisation who aim to advance arts, heritage and culture using historically significant buildings.
Leader of West Lothian Council Lawrence Fitzpatrick said: "The Regal Community Theatre is a much-loved building in Bathgate, and local residents are keen to see it retained for community use.
"The council is proposing to lease the property under terms which will enable Reconnect to re-establish the Regal as both a commercial and community arts and events venue.
"Reconnect will engage with community groups and users with the aim of sustaining the Regal Theatre as a community arts venue."