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Cabinet members have given the green light to award the City Council's biggest ever leisure build contract to the UK company following a detailed evaluation of five bids.
Contracts are due to be signed and workers expected to move on to the Central Park site at the beginning of February, following a statutory 'standstill' period.
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Council Leader Vivien Pengelly said: "Balfour Beatty is one of the best known construction companies in the world and we are delighted to welcome the team on board.
"Awarding this contract will mark the last crucial milestone in laying the groundwork for the Life Centre and we are really excited to be at this stage in the project. Plymouth has waited a long time for a top-class leisure facility and with the start of work just around the corner that dream is finally starting to become a reality."
Its contract will also include the demolition of the Mayflower Centre and Central Park Leisure Pools when the new Life Centre opens, as well as the forthcoming demolition of the skate park.
Work on the centre is scheduled to be completed in September 2011.
(CD/GK)
