Glasgow city planners this week gave the green light to build the scheme in the heart of Glasgow on Cathedral Street.
Contractors are due to submit bids next month for the sport, health and wellbeing facility project will include a six-lane swimming pool, a large gym area and specialist academic space for teaching and research.
The University then hopes to assess bids to choose a winning firm to start on the project before the end of the year.
The new facility – and a new teaching and learning building, which is in the planning stage – are the latest projects as part of the University’s investment in its campus to over £600 million this decade.
It follows the opening of the University’s £89m technology and innovation centre by the Queen last year that was built by Lendlease.