The University Technical College will be developed on the Porter Brook site, Shoreham Street, in the Cultural Industries Quarter.
Wates won the job for its innovative approach to the project – which included installing a five-a-side size football pitch on the roof of the building to save vital space.
The three-storey building, designed by HLM Architects, will also sympathetically restore and incorporate the Victorian Sydney Works building, which is a local historic landmark.
Construction is expected to begin this September and take a year to complete.
Andrew Cropley, an Executive Director of The Sheffield College, which is the lead sponsor of UTC Sheffield, said: “We are delighted that Wates Construction has been awarded the contract and look forward to working with them to help deliver this unique enterprise.
”The design for this building is truly innovative and works sympathetically with what is already on the site.
“It is a prime city centre location and so as a result space is a premium. We were particularly taken with the roof top multi-use sports pitch, which frees up more vital space for the actual building.”
The Sheffield UTC will offer teenagers specialised learning within the engineering and digital sectors.
Phil Harrison, Wates Construction Managing Director for the North and Midlands, said: “We are very excited to have been selected to work on such a prestigious facility for the city.
“We have delivered a range of education projects across the country and we look forward to efficiently delivering this iconic building for Sheffield and its young people.”