Under the plans, ports development group ABP would build a £100m deepwater berth at the port and an £80m wind turbine plant on the site.
Plans for a huge expansion of the docks, know as Green Port Hull, were drawn up with the expressed purpose of attracting wind turbine manufacturers.
Last March Siemens said that it was considering sites along the east coast and in the North-East of England for a wind turbine manufacturing plant that could create around 700 jobs.
A spokeswoman for Siemens said: “Siemens is pleased to confirm its selection of ABP as preferred bidder.
“Green Port Hull at Alexandria Dock is an established port complex with excellent access from the road and an adjacent deepwater berth.
She added: “The existing harbour revision plan [at Hull] can be amended to enable the export of wind turbines manufactured at the dock. We will now seek to find the best solution for building the factory.”