The aerodrome's owners had claimed that "permanent unrestricted planning permission" was granted in 1951.
However, this was rejected by Waverley Borough Council in July 2011 and the planning inspector in April 2012.
A judge at the High Court said the 1951 permission did not grant permission for unrestricted flying.
Lord Justice Sullivan said the permission for "flight testing" did not amount to consent for unrestricted flying of aircraft.
He said the certificate sought by the owners was pursued on the alleged basis that there was no material difference, in land use terms, between unrestricted numbers of passenger or cargo flights, and flight testing.
He said: "The use of land as a bus station is not the same thing as use of land for the testing of buses."
He added: "There can be no doubt that, properly construed, the 1951 planning permission does not permit the airfield to be used for unrestricted aviation activities."
Dunsfold Park was constructed during World War Two by the Canadian Army. It is now used by about 100 commercial operators and most famously as the venue for the filming of Top Gear.
The owners have the right to appeal the latest decision to the Supreme Court.

The new measure could lead to delays of up to three years before new drugs are made available to give NHS bosses the chance to try to renegotiate the price with drug firms.
The plan was agreed by the National Institute for Health and Care Excellence amid mounting pressure on NHS funds.
It will be introduced from next month.
NICE chief executive Sir Andrew Dillon said the move was needed given the "significant financial challenge facing the NHS".
Patient groups and the drug industry have already objected to the plan - a consultation has been run over the past three months.
Currently, drugs that are assessed as being cost-effective by NICE are automatically recommend for use in the NHS.
Once that happens, the health service has 90 days to start offering the drugs.
But crucially that process just assesses the cost versus benefit of the drug on the basis of the impact to an individual.
It does not take into account how many people may take the drug and therefore the total cost to the NHS.
Under the new plan, widely used drugs and expensive but effective drugs that breach the £20m a year threshold will face a secondary process.
NHS England, which pushed for the change, will be able to halt the 90-day deadline and begin talks with the drug manufacturer to try to get the price down.
They will be able to apply for an extension of up to three years. At that point, NICE will review what is happening.
During this period, NICE will have the power to allow restricted use to patients deemed most in need.
The move comes as the drugs bill is on the rise. Last year £16.8bn was spent on drugs by the NHS, up from £13bn in 2011.
There is concern a breakthrough in fields such as dementia could end up costing the NHS billions of pounds.
Last year NHS bosses capped the number of patients that could be given a new drug for hepatitis C, to keep the annual cost at £200m.
The new arrangements will be applied only to new drugs.
Information provided by the industry suggested that if they had been in place they would have affected the rollout of drugs such as Ezetimibe, used by 159,000 people with heart disease, and Lucentis, which is used by 1,200 people with diabetes to prevent sight loss.
As well as introducing the cap, NICE has also agreed to a fast-track process for cheaper drugs.
The owners of Dunsfold Park aerodrome, which is home to the BBC's Top Gear, have lost their latest fight for unrestricted flying.
[NEXT_CONCEPT]
A new £20m-a-year cap on the cost of new drugs will be introduced in the NHS in England in an attempt to save money, health chiefs have announced.