The new campus will be built at the northern edge of the circuit opposite the National Pit Straight.
It will offer specialist technical courses for 14 to 19 year olds in high performance engineering and technical events management.
The Silverstone UTC is an educational partnership between Tresham College of Further and Higher Education, University of Northampton and Silverstone Circuits.
Richard Phillips, Managing Director for Silverstone Holdings Ltd said: “We have been impressed by the team at Interserve, who came up with an inspirational design for the Silverstone UTC.
“This building fits in perfectly with the long-term Silverstone Master Plan and our vision of providing superb educational facilities at our venue.”
Gordon Kew, Director of UK Regional Building at Interserve said: “We look forward to working with all stakeholders to create a cutting-edge facility at an inspirational location that will produce the next generation of world-leading engineers and events management staff for the home of high performance engineering in Northamptonshire.
“Through this project we will strengthen our existing links with the area, and create real opportunities for the local supply chain to benefit from the project.”