Education secretary Nicky Morgan has approved plans to open a new secondary school in the former Southwark Fire Station and fire brigade training centre in Southwark Bridge Road.
The Haberdashers' Aske's Federation last year put forward plans for a secondary 'free school' on the site.
The school will form part of a development by Hadston, new owner of the former fire station complex.
Hadston exhibited its proposals for the site – including approximately 180 new homes – last October.
Peter Taylor Associates has designed the new school and ColladoCollins is working on the residential scheme.
Planning permission from Southwark Council will be required before the school can open.
Once open, the academy will admit 180 children a year, growing year on year and ultimately opening a sixth form with 250 places to complete the 1150 place school.
"I am delighted by today's announcement by the education secretary, which gives our proposed school in the old fire station site on Southwark Bridge Road a green light," said Adrian Percival, chief executive of the Haberdashers' Aske's Federation.
"The Haberdashers' Aske's Federation has a proud history of providing excellent secondary education to children of south east London and we are excited to be able open a new school in Southwark.
"We embarked on this project in response to a campaign by local parents and we look forward to continuing to work with them and the local council to develop a first rate school for the community."