Bernie Ecclestone and the FIA made a shock announcement on Friday morning that the British GP would move to Donington Park from 2010 as part of a 10-year deal.
And although there has been a great deal of controversy about the decision, Button is one of several leading F1 figures who thinks reaction to the move should be put in context.
"It is a pity because I have always loved this circuit," said Button at Silverstone. "But the important thing is that the British Grand Prix is here to stay and that has to be the most important thing for all of us British people.
"So I am chuffed to bits that we still have a Grand Prix over the next few years, and Donington will obviously be a new challenge. I am sure there is a lot of work they need to do to get it up to spec, but it is an exciting track.
"I haven't driven in a quick car there, I've only driven it in an F3 car, but I am sure it will be pretty spectacular."
Team boss Frank Williams said: "I'm delighted that the British Grand Prix will continue to be mentioned in a calendar. Some of us feared it may eventually be dropped but it doesn't seem likely now.
"If it is at Donington, it's at Donington. If it's at Silverstone, it's at Silverstone. Privately I would prefer to come to Silverstone. It is much closer for all our factory staff, it's closer to Heathrow and closer to the largest number of spectators but if it's Donington, we will be there."
Honda Racing team principal Ross Brawn added: "The most important thing is that we maintain the British Grand Prix because we are under huge competition from circuits like Abu Dhabi and Bahrain – these new countries that want a Grand Prix.
"It is just very good news that we will keep it in Britain, but a little bit sad that we are losing it from Silverstone, especially as our company and our factory are so close."
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