The Bognor Regis Lions Club now has the funds in place and hopes to order the machine imminently.
It will be stationed near the top of the high street after Boots agreed to station it at its store.
Richard Johns from the Lions said: “Boots have very kindly agreed to our request to have it there, although we have not yet finalised the details.
“We have the money to purchase the defibrillator after a sizeable donation from a private individual so once it has been signed off by the club I will order it.”
The defibrillator will be fully automated, with voice instructions and it will coordinate with the ambulance service.
It follows calls in the Observer for a defibrillator to be installed in the high street after two people collapsed late last year.
The long-term plan is to station it outside Boots so it can be accessed at all times.
The Lions still need to raise the funds to purchase a heated box to store it and pay for training and signage, and are hosting a fun quiz on March 31 at the Rowland Rank Centre. Ring 01243 584049 for tickets.