The masterplan application contains proposals for 3,100 new homes and 2.57m sq ft of office space as well as more than 100 shops, restaurants and 8.9 acres of public space.
The first phase of the scheme will include the construction of three residential buildings comprising 884 homes and two office buildings.
CWG said it expects the scheme to create more than 17,000 new jobs, with around 3,500 of those being taken up by local residents.
"This is an exciting new project for Canary Wharf Group which represents the continued redevelopment of East London almost 30 years after the original transformation of Canary Wharf began," said CWG chairman and chief executive Sir George Iacobescu according to local reports.
"The revised masterplan will create a strong and complementary mix of uses, and provide new homes, offices and retail spaces set within a network of streets and public spaces, designed to support the social life of new residents, employees and the surrounding community."
"It is a reflection of the demand we are seeing in the market, and is an opportunity for us to further expand the appeal of Canary Wharf by creating a new and exciting mixed use neighbourhood at Wood Wharf which will offer greater diversity and amenity and a richer urban fabric for the fast emerging City Centre of Canary Wharf," Iacobescu said.
Subject to planning consent, construction on the scheme is expected to begin towards the end of next year and the first buildings are planned for completion in 2017.
