Proprietors Richard and Liz Rawson placed the pub on the market in order to pursue other business interests, having owned and operated it since June 2001.
A deal was quickly agreed with Simon and Liz Featherstone from nearby Bottesford, just over the border in Leicestershire.
This is a first-time free-house purchase for Simon, who previously ran his own man-agement consultancy business, and Liz, who ran her own catering business.
The Green Man is located in the high street.
Ropsley is known for its Anglo Saxon stone church of St Peter, and also as the birthplace of Richard Fox, the Tudor bishop who founded the grammar school at Grantham and Corpus Christi College at Oxford.
The village lies approximately five miles east of Grantham.
The detached, three-storey, stone property was originally two cottages and is believed to date back to 1684.
It comprises a character public bar, lounge bar, pool room and spacious owner's accommodation, a car park and beer garden with boules pitch.
The Green Man is very much the hub of village life and plays host to two darts teams, a pool team, a six-a-side football team and a monthly quiz.
It is used by a variety of local clubs and organisations, such as the Ropsley football team, a local golf society, fishing club, cricket club, Grantham Folk Club and the Ropsley Roadrunners.
Jon Heald, from Christie and Co, said: "The sale of the Green Man generated tremendous interest, demonstrating once more that demand for freehold village freehouses is out-stripping supply."
The Green Man was sold for an undisclosed figure from an asking price of £250,000 for the freehold.