The 14-storey hotel will be located to the north east of central Leeds on the landmark 2.45 acre Bridge Street site, a site once occupied by British Gas.
Hampton by Hilton Leeds will be close to the Victoria Gate shopping centre.
Hilton currently has two hotels in Leeds: Hilton Leeds City and DoubleTree by Hilton Leeds City Centre.
The district includes the main city centre campuses of the University of Leeds.
The planned hotel will be based in the Great George Street building which was originally constructed as a school in about 1890.
The new hotel will include 140 bedrooms within the existing building and a rooftop extension. There is also the potential to create a further 200 bedrooms in a new build on the current carpark site.
Refurbishment and redevelopment is expected to start towards the end of 2018 following the planning process.
