The board will include representatives from City Hall, the Department for Transport, Camden council, Transport for London HS2 Ltd and Network Rail and will ensure the coordination of rail and construction projects in the area.
Euston is already due to get a new HS2 station and there are also proposals to redevelop the existing Network Rail station and to build a new station for Crossrail 2.
The new board will ensure coordination between the various projects, ensuring that development opportunities are maximised and that disruption to passengers and communities is carefully managed.
Transport Secretary Patrick McLoughlin said: “HS2 Ltd’s plans for Euston are the first step towards creating a station of which both the local community and national passengers can be proud.
“The new strategic board I have set up with the Mayor will help ensure that HS2 Ltd, TfL, Camden Council and Network Rail, take a joined-up approach to the station development and maximise the opportunities for growth.
“The government will work closely with the Mayor and the board in progressing plans for Euston.”
Mayor Boris Johnson commented: “I welcome the commitment by the Secretary of State to establish a new joint board to oversee the wider redevelopment of Euston, including HS2, plans for the redevelopment of the existing Network Rail station and proposals for Crossrail 2.
“Together, these schemes will support the implementation of the Euston Area Plan and deliver up to 3,000 homes and 14,000 jobs.”
Simon Kirby, HS2 Ltd CEO, said the partnership would help create “a Euston of which the community, London and the UK can be proud.”
The Euston Station Strategic Redevelopment board will be established early in the New Year.