Glasgow Caledonian University's (GCU) Heart of the Campus project has been approved by Glasgow City Council.
The initiative will see the Cowcaddens campus to the north of the city centre improved with the creation of new academic teaching, learning and research facilities as well as social spaces.
Works include a showcase entrance and a 500-seat teaching and conference facility.
GCU principal, Prof Pamela Gillies, said: "This development provides the leading edge infrastructure we need as GCU continues to grow."
Construction work, due to start on site in June 2014, is expected to be completed by January 2016.