Whalsay Kirk Development Company says it has received funding to purchase the building.
Although there has been no confirmation of how much money it has received, the group said it had been awarded stage two funding from the Scottish Land Fund.
In a statement, the kirk development company said it was “delighted” by the news.
“We met with all our current members and supporters at the weekend to share the news and consider the way forward,” the statement read.
A drop-in meeting will be held next week to find people willing to help the project progress.