Former Manhattan Borough President and attorney Percy Sutton purchased the Apollo Theater in 1981 and launched a spirited campaign which revived interest in the theater. Subsequently, in 1983, the Apollo Theater received national, state and city landmark status and celebrated its 50th Anniversary in 1985 with a grand reopening gala and nationally broadcast television special Motown Salutes the Apollo. Two years later, ShowTime at the Apollo, the television show based on the original Apollo Amateur Night, began airing in syndication and now runs weekly in 119 markets nationwide.

The historic theater is now managed by The Apollo Theater Foundation, a non-profit organization founded in 1992, and is currently in the midst of major renovations. The Apollo Theater, listed on the National Register of Historic Places, has made a dramatic resurgence over the last few years with the addition of a new executive management team; a rejuvenated Board of Directors and a fresh and extremely active programming schedule. Apollo Amateur Night still takes place every Wednesday at 7:30pm. The Apollo averages six events a week, including performing arts, community programs, concerts, and special events. The theater celebrates Black Music Month every June with a series of events including its annual Spring Benefit.

The Apollo Theater is also a strong force in the Harlem community, hosting a number of special events, including health fairs, daily Apollo Historical Tours, community arts initiatives, and talent showcase competitions for seniors and for children.

Drawing 1.3 million visitors annually, Harlem is Manhattan's third most popular tourist destination, and the Apollo remains Harlem's top attraction.