The hospital will cater for up to 10,000 births per year
The Department of Health says plans have been lodged to move the National Maternity Hospital from Holles Street in Dublin.
The new hospital is be located on the St Vincent’s University Hospital campus in the city.
It follows a determination by An Bord Pleanála that the development of the new hospital constitutes a "strategic infrastructure development".
The project is the largest single investment ever to be made in maternity services in Ireland.
It will cater for up to 10,000 births per year, with obstetrics and gynaecology care.
Facilities will include five operating theatres, 50 neonatal intensive and special care rooms, 24 delivery rooms and ultrasound equipment.
The Department of Health also says a number of displaced St Vincent’s facilities will be re-provided as part of the project.
Health Minister Simon Harris said: "I am delighted to confirm that a planning application for the new National Maternity Hospital will be submitted to An Bord Pleanála today.
"I am passionate about improving the safety and quality of our maternity services.
"The lodgement of the planning application is a milestone in the development of the future infrastructure we want for our maternity services so today is a landmark day."
It is hoped the new facility, costing some €150m, will open in 2021.
However, it was reported last month that an extra €300m is expected to be added to the cost of the new hospital.