The agreement was due to be officially sealed at a meeting of the local authority on Monday evening.
Carrickfergus DUP Councillor Cheryl Brownlee, who has been campaigning for the new play park, said: “I am absolutely delighted to see this project now come to fruition as Council secure this investment for Eden.
“This project is one which I have been passionate about since first being elected to the council in 2014 and I have campaigned tirelessly from then.
“There has always been a lack of play park provision in this area which is particularly worrying given the high number of families and children in the area.
“This will make a huge and positive difference for all involved.”
The campaign for a play park in Eden dates back several years.
In 2015, a petition for such a facility set up by two local schoolgirls attracted hundreds of signatures.
A council report at the time stated that the Eden area had the highest number of 0-15 year olds across the borough.
Meanwhile, the borough council has also given a commitment over a replacement playground for the Castlemara estate in Carrickfergus during 2021/22.
An upgrade of Legg Park in Carrick town centre was completed earlier this year.
Michelle Weir , Local Democracy Reporting Service