The 90-room boutique hotel, based on the boat that sank during its maiden voyage in 1912, will form part of a project costing "hundreds of millions" to refurbish an area known as the Titanic Quarter.
The hotel, developed by a company also known as Titanic Quarter, will feature an event space as well as a swimming pool, gym and spa facilities. The building was formerly the headquarters of Harland & Wolff.
Other plans for the area include restoration of the Thompson Dock, and residential and educational developments including a new Public Records Office.
Elsewhere, the offices where the Titanic's blueprint was drawn up are expected to be refurbished for events.
The Titanic Signature Poject is expected to draw about 400,000 visitors every year.
To add your own comment and let us know your thoughts.