The donation was raised through behind-the-scenes tours offered to the show's fans this summer.
While the show takes place in the fictitious town of Hudson, it's actually filmed in High River. Maggie's Diner, a centrepiece on the show, was destroyed in the flooding. But after months of repairs, the diner is open again.
Heartland filming to resume at High River centrepiece
"Hudson is our home and high river has been very, very good to us over the years and so we felt it was crucial that we give back," said executive producer Tom Cox.
The money will go to a central fund, with a committee deciding how it is spent.
Mayor Craig Snodgrass said having the cast and crew return to High River is "huge" for the town.
"Just makes High River start to feel that little bit more normal again cause this is a regular occurrence that we always had downtown."