The hostel, in Hawes, was sold to Newcastle headteacher David Miller for £100,000.
It is popular with groups of walkers and mountain bikers and has provided budget accommodation as a base for exploring the Yorkshire Dales since 1972
Mr Miller plans to begin placements at the hostel, which reopens on Monday, in catering, gardening, and housekeeping, and hopes to link up with special needs schools and colleges.
“I know from my work as a head teacher that workplace opportunities for young people with learning difficulties are nowhere near as widely available as they should be," he said.
"At Hawes Youth Hostel we hope to be one of the few businesses linking up with SEND schools and colleges nationally to provide short and long-term placements for 18-25-year-olds in areas such as housekeeping, catering and grounds maintenance.
"We will also be looking into the prospect of employing a full-time tutor to oversee the work experience programme.
“This kind of opportunity can be transformational for the lives of these young people and I see this as my chance to create something really positive that can continue to make an impact long after my time, in the form of a charitable trust.”