Quintain has signed a deal with Cineworld for a new nine-screen complex which will seat 1800 people.
Construction is expected to start on site in 2011.
Nick Shattock, Deputy Chief Executive of Quintain, said: “This agreement with Cineworld is another significant step forward in delivering our core retail and leisure offer at Wembley City.
“Located next to the Arena, the new cinema and all its surrounding restaurants and shops will become a major new destination for visitors and local residents.”
John Sisk was awarded an £89m contract for a Hilton Hotel and student accommodation block on the Wembley site in March with building work due to start this summer.
Plans for the 85-acre regeneration site in north London were scaled back during the recession.
But affordable homes are already being built on the site and the cinema deal is the latest sign that the revised plans are back on track.