The London Borough of Newham and UCL now have six months to progress the proposals for the development, following a signed agreement between the parties, UCL said.
The proposed new campus would principally provide new teaching areas and research facilities, the University said. It also plans to include new community facilities, more residential space and new commercial space.
UCL has proposed that the new campus be situated to the east of the Olympic Park in Greater Carpenters Neighbourhood, an area that has been designated for redevelopment by the London Borough of Newham and the Government since 2010.
The Mayor of Newham and the Council's cabinet are expected to consider the proposed developed in mid-2012, the developer said. There is no obligation for either Newham council or UCL to proceed with the plans after this date, according to the agreement.
"UCL has ambitious growth plans for the coming years, but we are constrained in our central London location in meeting the demand for suitable space to support the development of world-class teaching and research," said Professor Malcolm Grant, UCL president and provost.
"This is an exciting and ambitious proposition which offers great opportunities for Newham and we look forward to working with UCL," said Sir Robin Wales, Mayor of Newham. "This development of world-class academic facilities in Stratford would create a wealth of benefits for the local area, the borough and East London as a whole."
The announcement comes a week after UCL unveiled plans to spend £500 million upgrading its Bloomsbury campus by 2020.
