The work to restore Battersea Power Station in south-west London will begin in October, the Malaysian consortium that owns the building has said.
During the three-year revamp, £100m will be spent on demolishing and rebuilding the four chimneys, the steel frame, wash towers and brickwork.
After the repairs, work will begin on the interior of the 1933 Grade II listed building on the 39-acre site.
The site will be redeveloped into 3,500 homes, offices, shops and a park.
The power station was decommissioned in 1983 and has been vacant for the last 30 years, but has changed hands several times.
It also features on English Heritage's Heritage At Risk register.
The team restoring the Art Deco building will refer to the original architectural plans used at the time of the construction of the landmark in 1933, Battersea Power Station Development Company said.
The firm said it was currently finalising the design for the interior of the power station, based on architect Rafael Vinoly's masterplan.
Rob Tincknell, chief excecutive of Battersea Power Station Development Company, said: "Battersea Power Station is at the heart of this exciting new community, giving it an identity and authenticity unique among London developments.
"The reconstruction of the iconic chimneys is an essential part of the refurbishment and will be undertaken with great care and precision so that they remain a landmark on the London skyline for decades to come."
Engineering firm Buro Happold, which has worked on the power station for the past 10 years, and historic building consultants Purcell will advise on repairs.
Justin Phillips, partner at Buro Happold, said: "We have several years' experience and detailed knowledge of the power station building.
"We are extremely confident that the design solution we are working on with the Battersea Power Station team will ensure that Battersea Power Station has a bright and long future."