The £80,000 project has seen all three floors of 26 Market Place brought back into use and the building restored to its traditional Edwardian style.
Its original frontage has been reinstated and its upper floor windows have been restored.
Coun Denise Jeffery, cabinet member for economic growth and skills said: “I’m very proud that all the hard work has paid off, and people will be able to enjoy the building for generations to come.”
The renovation was part of the Pontefract Townscape Heritage Initiative (THI) which aims to improve the town centre by restoring historic properties in the Pontefract Market Place conservation area.
Coun Pat Garbutt, chair of the heritage initiative group, carried out the official opening.
She said: “This building is a landmark and I’m very proud that its renovation has made such a positive impact within the Pontefract Market Place conservation area.”
The THI scheme is a £1.5 million regeneration project, funded by the Heritage Lottery Fund and Wakefield Council. Work to restore some of the town centre’s buildings began in 2011 and is due to finish in March 2018.
Some of the buildings which have received funding from the scheme include 5 to 9 Gillygate, where sash windows, chimneys, roofs and shop fronts have been repaired and terracotta features have been reinstated.
Restoration work has also taken place at the neighbouring Grade-II listed building known as 1 Market Place and 3 Gillygate
Coun Jeffery said: “Pontefract has a wonderful heritage and the THI project is also helping to improve the town centre for businesses, residents and visitors.”