As reported by Cornwall Live, Outlaw and his wife Rachel have bought the property from owners David and Jackie Barnard off a guide price of £1.85m.
The Stargazy Inn holds nine luxury bedrooms alongside its restaurant space, which the Outlaws plan to refurbish before relaunching the venue.
“Rachel and I are over the moon to get the keys to such a lovely property," Outlaw told Cornwall Live.
"Over the last seven years I’ve been gazing at the property dreaming that one day we could get our hands on this property and now we have the keys.
“We are so excited to have brought such a great place and can’t wait to get going with Outlaw’s Guesthouse.”
The impact of the pandemic led the highly-regarded seafood chef to close his eponymous, two-Michelin-starred flagship restaurant and relaunch it as the 'more inclusive and accessible' Outlaw's New Road.
His London restaurant, Siren, in the The Goring hotel in Belgravia, was also closed that year as a result of the pandemic.
Outlaw's New Road offers a £95 set seafood menu that can include dishes such as scallop with onion and chilli dressing; spider crab soup; and monkfish with winter vegetables.
It is currently ranked number 70 on the Estrella Damm National Restaurant Awards top 100 list, and holds a Michelin star.
Outlaw also has a second Michelin-starred restaurant in Port Isaac called Outlaw's Fish Kitchen, which serves a fixed price seafood menu at £80.
