The council wants to build two 20,000 sq ft sound studios on land next to the Littlewoods Building as part of a strategy to create a film and TV hub in the city.
Work to build the studios could begin in November subject to planning approval and the council said they could be operational by next spring.
A lead contractor for the project will be appointed next month, the council said.
The project forms part of developer Capital & Centric’s £54m plan to transform the former Littlewoods pools building, located on Edge Lane, into a centre for the film and TV industry.
Littlewoods Film and TV Studios is intended to become a “Hollywood of the North” in Liverpool, according to the developer.
In July this year, the Liverpool City Region Combined Authority approved £17m to support the scheme.
Last week, Liverpool John Moores University agreed to lease 75,000 sq ft at the development.
Twickenham Studios has signed to take 85,000 sq ft at the 750,000 sq ft scheme, and the letting to LJMU takes the project to around 60 to 70% pre-let, according to Capital & Centric.
Joe Anderson, mayor of Liverpool, said: “Liverpool’s reputation in the TV and Film industry is second to none. The city’s ability to double up as New York, Chicago or Moscow means we regularly see it on the silver and small screen.
“The demand from production companies to come here has now reached a tipping point and we need to take the city’s offer to the next level.”
Steve Rotheram, metro mayor of the Liverpool City Region, said: “These new facilities and the wider Littlewoods Studios development will mean that we are able to offer the full package to productions, from providing stunning filming backdrops to the more technical editing and recording work.
“This scheme has the potential to be a real game-changer for the entire region, building a ‘Hollywood of the North’ that will attract jobs and productions from around the world to the area.”