The upmarket hotel brand, which was founded by Japanese chef Nobu Matsuhisa and Hollywood movie star Robert De Niro, already operates Nobu Hotel London Shoreditch, which opened in 2017.
The new property, Nobu Hotel London Portman Square, will take over the former Radisson Blu property in the West End.
Following a complete refurbishment, the rebranded hotel plans to open in spring 2020 with 239 rooms and suites, alongside a Nobu restaurant, ballroom and meeting spaces.