The firm has been chosen as principal contractor to redevelop a former Royal Mail sorting office at Copperas Hill.
The new building will contain the University's three libraries as well as a central teaching units with lecture theatres and seminar rooms, study zones and IT suites.
In addition, sports facilities will be developed including an eight-court sports hall, a gym and dance studios.
Offices for the Liverpool Students' Union and spaces for other services such as a careers centre and cafes will also be built.
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Work will involve adding two mezzanine floors to the existing structure, with the roof developed to allow use for sports and recreation.
Overall, the total floor area will be expanded from 280,000 sq ft to 355,500 sq ft.
Surveyors are already on site examining the existing structure with enabling works due to be completed in August.
Simon Gorski, Executive General Manager at Lendlease, said: "We're really pleased to be getting underway with our work at Copperas Hill, which has been described as a "transformational" investment for LJMU. The challenge of retaining the existing and very prominent structure and utilising it to create an iconic and inspirational multi-purpose facility is really exciting."
The design team for the project comprises BDP Architects, Curtins Structural Engineers and Arup Building Services Engineer.
Construction is estimated to be begin this summer, with works completed in the first half of 2018.
(LM)
