West Croydon bus station is to be revamped as part of a £842m programme to modernise London's transport infrastructure.
The station is one of four earmarked for upgrades including the installation of energy-efficient fixtures and fittings, which Transport for London (TfL) claimed would improve customer experience and benefit the local environment.
Work is scheduled to begin in 2015.
The upgrades were announced as part of TfL's 10-year business plan, which included draft proposals for future rail, tram, tube and road projects.
TfL also announced plans to install double tracks on key sections of the Tramlink route between Croydon and Wimbledon.
It said it would buy four new trams to increase frequency and capacity on the network.
Tramlink user numbers have increased by 50 per cent since it was launched in 2000.