Painted in 1966, it captures the iconic Northumberland setting of the Church Point and bay.
And it will go on display at Newbiggin Maritime Centre thanks to the generosity of a local benefactor and funding from Newbiggin Heritage Partnership.
Sheila Harrison, Chair of Newbiggin Heritage Partnership, said: “The painting was bought by a family originally from Blyth.
"They contacted the Maritime Centre asking if we would like to display the picture so that our local residents and visitors could enjoy it.
"Naturally, we said yes and are thrilled to have such a prestigious work exhibited in the place where it was born!”
One of Britain’s most popular 20th century painters, L S Lowry’s work is most commonly associated with the industrial North West of England, where he grew up and lived all his life.
Sheila said: “Though Lowry is best known for his industrial settings, he also had a lifelong fascination with the sea.
"He was a frequent visitor to the North, visiting Newbiggin by the Sea on many occasions from the 30s to late 60s.
"He drew and painted several pictures of the village including a sketch of the Needle’s Eye at the opposite end of the bay.
“There is a funny story in the village about him watching the fishing boats bringing in their catch one day. Seeing a stranger dressed in a suit, the fisherfolk thought he was the taxman spying on them!”
Sheila added: “The picture isn’t the type of image you would expect of Lowry, but it has lots of charm and character.
"It really captures the atmosphere of the bay at that time with the traditional coble fishing boats and his famous matchstick figures enjoying the beach.
"It’s a fantastic opportunity to see an original painting by a world famous artist in the setting which inspired it.
"We are really excited, Ian Lavery MP has agreed to unveil the painting and then able to share it with all our visitors to the Centre.”
The painting will be on display at Newbiggin Maritime Centre from October 24.
For more information visit www.nmcentre.org.uk