1 Park Place tower, designed by Skidmore, Owings & Merrill, will replace an earlier proposal for the plot by Squire and Partners.
It will sit next to the Morgan Stanley building and faces onto Middle Dock to the south and West India Avenue to the north.
Plans involve a four-floor, mixed-use pavilion, along with 624 homes specifically built for rent only. The apartments would be managed by Vertus, Canary Wharf Group's rental arm.
Should planning permission be granted, works are expected to start in 2023. The fit-out of the building is planned for 2025, built by Canary Wharf Contractors, and completed in 2028.
The site is currently vacant but was previously occupied by a 1980s building - the former HQ of Littlejohn Frazer.
Further information about Canary Wharf Group can be found here.