The scheme will see Foster design three towers, the tallest of which is a 90m high, making it the latest in a long line of tall buildings proposed for the South Bank.
Foster's plans will replace the 1960s Hampton House, currently owned by Newlands Enterprises and occupied by the London Fire and Emergency Planning Authority as well as an HSBC bank.
Expected to be submitted for planning early next month, the project is the latest addition to the changing skyline south of the river.
The practice's plans come quick on the heels of Allies and Morrison's 'Three Sisters' scheme located behind the London Eye, which, at 33 storeys, is only six storeys taller than Foster's newest project.
However, it is likely to be dwarfed by Broadway Malyan's 180m-tall Vauxhall Tower, which was recently revealed to have been given the go-ahead by then Deputy Prime Minister John Prescott, against the wishes of his own advisers.