However, the move will mean shows like Ant and Dec's Saturday Night Takeaway will be produced outside of London.
The broadcaster will sell the 22-storey 70s tower on the site for residential use and convert the rest of the space into a new facility bringing together all its staff in the capital. The move will mean the closure of three other studios in London.
TV studios at the site, though, will only be used to produce daytime TV, with other programmes set to move to locations such as Elstree in Hertfordshire. It will have dedicated studios for Good Morning Britain, Lorraine, This Morning and Loose Women.
The plan will mean that all production will temporarily move from the site while the development, expected to start next spring.
The changes will lead to 140 job losses, The Times reports. Broadcast union Bectu described the plans as a "betrayal of staff", according to the paper.
An ITV spokesman said: "After given careful consideration to all London property options, we are planning to build a modern, purpose-built HQ on our existing South Bank site, bringing together all of our London-based staff in one location for the first time."