Gosford trainers have been given a reprieve and will be allowed to remain at the track beyond next year.

Trainers were facing eviction after the Gosford Race Club announced plans late last year to close the track as a training facility in December.

But after discussions with Racing NSW, the club backflipped on the decision and said on Thursday training would continue indefinitely at the track.

In a joint statement the two organisations said they made the decision after consulting with trainers and studying relocation options.

"Racing NSW has concluded the continuation and preferably growth of training at Gosford racecourse is the best outcome for thoroughbred racing," Racing NSW chief executive Peter V'landys said.

Racing NSW is in ongoing discussions with the club about a funding package to maintain training facilities and committed money to upgrade the pro-ride track last year.

"There is likely to be a need for investment in training infrastructure and possibly stabling at some point in coming years," V'landys said.

"However at this time, it is vital participants be provided with certainty."

Gosford Race Club chairman Michael Cusick said the decision would bring more jobs to Gosford and more owners to the industry.

"The board has always been supportive of the ongoing use of Gosford as a training venue but we are conscious of the need to be viable both financially and in terms productivity," Cusick said.

"It's a win-win all round and I thank Racing NSW for its support with this matter."