The British Film Institute (BFI) revealed last week it has received up to £87m towards the projects total cost, subject to the tender process beginning immediately.
The International Centre for Film, TV and the Moving Image will form the "final piece" of London's South Bank Cultural Quarter and is expected to be open in 2022.
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It will be built on the Hungerford car park site and will include a gallery, three cinema screens and an education centre.
The BFI is working alongside key landowners, the South Bank Centre, Braeburn Estates, Jubilee Gardens Trust and Lambeth Council to ensure the development will be "sensitively designed to complement an expanded Jubilee Gardens".
As part of the project, Braeburn Estates will create 6,500 sq m of new green parkland on Jubilee Gardens.
Josh Berger, BFI Chair, said: "As the new Chair one of my priorities will be to drive forward the BFI's new Centre to provide the opportunity to showcase British talent, creativity and vision to the world.
"It will inspire the next generation of award-winning British talent, filmmakers and visual effects geniuses, and give audiences one of the best places in the world to experience film in all its forms."
(LM)
