Developer Fulstow Holdings plans to build a four-star hotel and conference centre overlooking the River Hull.
Construction work on what will be Hull’s tallest building is expected to start early next year once a main contractor has been appointed.
Property entrepreneur Tim Fulstow who was born on Longhill estate in Hull, and is now London-based, said Radisson Blu is on board to run the hotel.
The proposed 243-room hotel will occupy the top 15 storeys with bars on the 21st and 22nd floors while the ground floor will feature a 1,000-seat conference hall.
The Trinity Quay scheme was originally given the go-ahead more than two years ago but work never began on the scheme.