The retail chain has agreed to purchase a 104,000 sq ft building on the Houndmills industrial estate from ProLogis European Properties.
It will demolish its existing warehouse centre and then extend it following the acquisition of 10 acres of adjacent land from Linde.
The complex £100m development will be phased to allow Sainsbury’s to supply stores from the depot during construction.
The distribution complex will include a 550,000 sq ft chilled and ambient storage as well as 22,500 sq ft of offices.
Paul Green, Sainsbury’s logistics town planning manager, said: “We are very excited about the opportunity to improve our Basingstoke depot, and are encouraged by the support and feedback we have received from the local community.”