The plans for the new Blavatnik School of Government will be submitted to the council for planning approval after a second round of public consultation this month.
The £30m scheme designed by Tate Modern architect Herzog & de Meuron will be built on Walton Street next to St Paul’s church in the Radcliffe Observatory Quarter.
The project was made possible by a £75m endowment by American industrialist and philanthropist Leonard Blavatnik, and aims to train future world leaders.
The six-storey circular building will be an in-situ concrete structure with a limestone add-mixture, leaving the concrete frame exposed internally. The concrete will be cast or treated in a manner to look like eroded limestone.
Work on the school is expected to start later next year to take in first students in 2015.
The school will take one of nine plots on the cleared Observatory site in Oxford.
Laing O’Rourke began work on the Mathematical Institute Building last year and the University has planning permission for a new Humanities Building and Library in the centre of the site.