The new design is an extensive public realm project that will improve access to the station as well as provide pedestrian links into the city.
Initial designs included a 27-storey residential tower, but due to rises in construction costs the building was dropped from the plans.
According to English Partnerships, which is spearheading the project, the new station will ‘transform the landscape’ of the city while revealing its ‘splendid Victorian frontage’.
English Partnerships area director Eliot Lewis-Ward said: ‘It is a complex project, but when completed it will provide the city with a Gateway of which it can be truly proud.’
The scheme was submitted to Liverpool City Council in December and, subject to planning approval, work will begin in the spring, with construction on the new public realm due to start in 2009.