The new park, open to the public, will lie next to the river and directly link to the 80ha Battersea Park next-door. Ian Simpson Architects and de Rijke Marsh Morgan will work up the plans layed out in a masterplan by Rafael Vinoly.
The approved proposals to redevelop the 20ha plot will include the complete regeneration of the power station with replica chimneys to replace the decaying originals, new homes, offices, shops, restaurants and hotels as well as community, cultural and leisure facilities.
English Heritage and Design Council CABE have given their blessing to the project, which moved forward last week after the Malaysian consortium of S P Setia, Sime Darby and Employees Provident Fund completed the sale. Ground works are due to start next year.
The site was acquired following an open market tender for £400m through a special purpose vehicle known as Battersea Project Holding Company. The development will create about 26,000 jobs.
Rob Tincknell, chief executive officer of Battersea Power Station Development Company, said: " With the firm backing of the mayor of London, the London Borough of Wandsworth, central government, English Heritage and the Design Council CABE I am confident the next few years will bring many more opportunities to celebrate."