Current editor Christine Stewart was due to resign from her post after the next issue is released in March but has offered to stay on until June to help any willing volunteers settle into the role.
The Clochandighter has been in circulation since the early 1970's when it was printed on two sides of A4 paper from the local church hall.
It now has a circulation of around 3,500, going to both homes and businesses, and it only increases as Portlethen expands.
Gordon Munn, Chairman of the Portlethen and District Community Council, said: "The Clochandighter has grown to be more than a community newsletter, it is a proper quality newsletter. It would be sad to see it fall."
He appealed for willing volunteers to take on the role at their Tuesday night meeting, suggesting that two or three people could share the role.
Ms Stewart agreed that three people would make light work of the three main tasks of editing, advertising and bookkeeping, and appealed for anyone who would be willing to fill one of the roles to get in touch.
"You don't even need to have experience in these roles," she said: "I had no experience before I joined, so anyone can do it."
Councillor Paul Melling said it would be the perfect opportunity to do something credible to put on your CV, and could even be starting point for something bigger. He said: "Taking on the advertising role could be the first step into a marketing job."
It was also feared that small businesses could be affected by the closure of the magazine. Community Council Treasurer June Wood said: "It would be sadly missed by small businesses as it is good advertising for them, especially if they have just started up."
Mr Munn agreed, emphasising that smaller businesses often don't want to advertise in directories such as the Yellow Pages and prefer to be in smaller, local publications.
If anyone would like to offer their free time to work on the Clochandighter then contact a member of the Portlethen Community Council by visiting www.pdcc.org.uk