The college has purchased a 1.8-acre site on Wales Farm Road in North Acton to build the 700-bed undergraduate facility.
The new hall will increase bed space for students and will add to the existing Imperial student community of around 900 living in the College's Woodward Buildings as well as the nearby Costume Store development.
Students at the new development will also have access to existing public facilities at Woodward, as well as the North Action Underground Station and a new Crossrail station due to open in 2018.
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Subject to planning permission, the scheme is targeted for completion in September 2020.
Imperial's Provost, Professor James Stirling, said: "At Imperial, we are committed to enriching the wider student experience, as well as providing a world class educational experience. We know that students based in Woodward Buildings are enjoying the facilities on offer, and I'm pleased we will be able to offer that experience to more of our students in the future."
Jane Neary, Director of Campus Services, added: "Like Woodward Buildings, the new hall will meet the demand from students for single en suite rooms in purpose designed accommodation.
"This new development will be a great addition to our accommodation portfolio, and will enable us to offer a greater range of cheaper bed space options to our students."
(LM/MH)
