Birmingham Moor Street station is set to undergo a major redevelopment, to integrate future HS2 links.
The historic station dates back to 1914 and has a grade 2 listed entrance.
The plans include doubling the size of the concourse and building two new platforms to meet growing demands.
Passenger numbers at Moor Street are expected to rise from 7 million to 12 million a year by 2043.
Andy Street, Mayor of the West Midlands, said: "We have big plans for transport in the West Midlands and the expansion of Moor Street is a crucial part of that.
"Our game-changing plans for HS2 and new metro and rail lines are already driving investment, new jobs and apprenticeships as well as bringing communities closer to those work, training and education opportunities.
"This whole area of Birmingham will be revitalised over the next few years as the world's largest Primark opens, Curzon Street HS2 station is built, and Moor Street is transformed.
Cllr Roger Lawrence, chair of West Midlands Rail Executive, said: "With a second entrance, more space and improved links to New Street Station and the new HS2 Curzon Street station, this vision will offer passengers a much more enjoyable and pleasant experience when visiting Moor Street.
"The extra platforms will also ensure that Moor Street is ready for extra services following the proposed development of the Camp Hill Chords, as part of the Midlands Rail Hub."
Cllr Ian Ward, leader of Birmingham City Council, said: "These exciting plans combine Moor Street Station's proud heritage and history with the major work that is currently transforming our city.
"The new-look station will be at the very heart of Birmingham's future transport network, supporting regeneration that will provide homes, jobs and opportunities for our young and growing population."