Neil Horbury, 72, of Darton, will leave his shop to another barber who had to leave his business in Shafton.
Dave Knightingale, 31, of Green View, Shafton, ran Dave's Barbers, but had to close when his landlord wanted to turn the building into a sandwich shop.
Neil said: "I suppose when you get to my age you start thinking that it's getting time to retire.
"I always said that I wanted the shop to continue as a gents' hairdressers and with Dave losing his business, this is an ideal opportunity to leave it for a young man to take over, just like I did."
Neil has been cutting hair at his shop on Joseph Street, Grimethorpe since 1961.
The shop was left to Neil by previous owner Albert White, who opened the shop in 1947.
Neil will hang up is scissors on Saturday, August 4 and Dave will take over the following Monday to begin decorating.
Dave, who also has a barber's in Featherstone, West Yorkshire, said: "Neil told me he was retiring and offered me the shop to keep business going."
"I'm really looking forward to opening. Hopefully Neil's clients will still come to the shop and I'm hoping to bring some of my customers over as well."
Dave's Barbers, Joseph Street is set to open on Monday, August 13.