In partnership with China Resources Property, the new hotel will give brand owner Marriott International its 10th property in Hong Kong.
The hotel will be designed by Hong Kong-based designer Andre Fu, whose other projects in the city already include Upper House and Kerry Hotel.
The 25-storey hotel will feature 129 suites, a 320-seat banquet hall, Chinese and French restaurants and a pool.
Located in the Wan Chai district, the hotel will be close to hotspots such as the Hong Kong Convention and Exhibition Centre and Victoria Harbour.
Lisa Holladay, vice president and global brand leader, said: “Hong Kong is a bustling centre of commerce with an incredible mix of glamour, culture, history and tradition. This vibrancy makes it an ideal destination for St Regis.”
With this latest addition, there will be more than 40 St Regis hotels globally.