The plans have been submitted to Southwark Council for approval and, if granted, would form the first part of a longer term transformation of the museum.
Other works in the first phase include creating new central hall terrace displays, building additional gallery space at the top of the museum for exhibitions about contemporary conflicts and a new cafe and shop.
The museum says it has already secured more than half of the project’s £35m cost. The work would require the museum to close for six months from January 2013.
Director-General Diane Lees, says: “We are excited by this unique opportunity to reinvigorate our flagship branch, IWM London, which last saw significant investment in the late 1980s.
“The Centenary of the First World War from 2014-18 will be a landmark event for Britain and the world. IWM was founded during the First World War as a lasting memorial to all those who played their part in the conflict.
“Our brand new galleries will allow us to continue this work in the twenty-first century, helping to keep the history and personal recollections of the war alive for future generations.”
