A new academy-style school costing an estimated £25m has been announced for the Withywood area of south Bristol.
The project is being sponsored by the Society of Merchant Venturers, which
has agreed to raise £2m towards the construction costs.
Charles Clarke, Secretary of State for Education and Skills, said a funding agreement to start the building work could be signed by the end of 2005.
The new school is scheduled to open in September 2007.
Academies are independent but publicly-funded schools, which the government has been promoting since 2000.
It will provide £23m towards the cost of building the school and will meet its running costs.
Bristol opened its first Academy in September 2003 - the City Academy, which replaced St George's Community College.
"Academies are an integral part of the Government's strategy to raise school standards in the most disadvantaged and challenging areas," said Mr Clarke.
The new school will be built on land next to the existing school buildings, which will then be demolished.