The Trust intends enhancing Ballathie Bluebell Wood near Kinclaven in Perthshire, and reforesting adjacent grassland cleared of trees in the 1940s and 50s.
Carol Evans, Woodland Trust Scotland director, said the legacy stipulated the money was spent in Tayside.
“We are delighted to have this special wood under our care. The springtime display of bluebells is simply breathtaking.
“The gentle slope of the ground combines with the blooms to produce a blue haze which seems to go on forever. We think it is the most spectacular display in Scotland.”
Ballathie is also home to species such as red squirrels, pine martens, stoat, brown hares and hedgehogs.
Earlier this year the Trust bought Loch Arkaig Pine Forest in Lochaber, one of the largest remaining parts of ancient Caledonian pinewood.