I buy dry dog and cat food (kibble) in large bags to save money.
What's the best way to preserve it? Deep freeze it?
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I do similar with the kibble for my cats and I use airtight "tupperware"-style tubs to store it in.
I don't know how large a bag we are talking here or how long that might last you but I've never had any problems with mine.
While there shouldn't be any problem with freezing dry food I don't think it's necessary - generally keeping it in a cool (<100F) dry place and avoiding exposure to the air, large temperature fluctuations and moisture is the key thing.