The 75,000 sq ft site will include a vocational training college, a sixth form centre and a central hub.
Subject to planning, work on the new sustainable campus is due to start this Spring and scheduled to be completed by August 2015.
Matthew Burgess, Gloucestershire College Principal and Chief Executive said: “I am really excited to see the plans progressing to develop a new college in the Forest of Dean giving the community there the education facility it deserves. It has taken a lot of hard work to get to this point so it’s great to reach this stage.”
The plans are supported by the Homes and Communities Agency, which is working with the college and its partners to bring forward the education-led Northern Quarter project.
