The retail giant is reviving plans for the Broadway shopping centre which was originally a £320m scheme when first mooted in 2004.
Westfield said changes to the scheme would make it “more market relevant and deliverable”.
The mothballed plans included Debenhams as a major tenant, 80 other shops, 171 apartments, offices, restaurants and 2,500 car parking spaces.
Permission was also granted for a 120-bedroom hotel.
Details of the plans have not yet been finalised but there will be a public exhibition in the city in July where people can find out more about the proposals.
Duncan Bower, director of development and asset management at Westfield told the Telegraph and Argus: “We appreciate it has been frustrating for the people of Bradford that the Broadway development has taken longer to come forward than anyone would have liked.
“However, Westfield has always believed that a scheme could be brought forward and the consultation and prospective planning application are important steps towards reviving the scheme.
“We have discussed our initial thoughts with Bradford Council and we are shortly about to submit a planning application.
“A crucial step in doing this is to consult with the public about the plans and we urge people to get involved and have their say.
“The amendments to the scheme are still being worked through and the details will be announced as soon as possible. However, the fundamentals of the project remain the same.
“This scheme will provide a high-quality shopping environment anchored by major national retailers and will provide a major boost to the local economy.”