The practice has seen off major opposition, including Erick Van Egeraat, to win the New Holland Island Redevelopment competition.
The project aims to regenerate the city's 18th-century New Holland Island with a design brief that demands the scheme should provide 7.6ha of mixed-use cultural development, including an indoor theatre, conference facilities, galleries, a hotel, shops, apartments and restaurants, with a flexible outdoor arena at its core.
The city's bosses have claimed that the project should 'transform the city of St Petersburg into the foremost venue for performance and visual arts in the world'.
Foster said he was very pleased to pick up the commission. 'I am honoured and delighted to have this opportunity to make a dramatic intervention in the cultural life of the city,' he said.
'We aim to help St Petersburg exploit the extraordinary legacy of its urban structure and historic buildings and establish an arts quarter that will reinvigorate the city and consolidate its position as an international tourist destination,' he added.