The Old Anatomy Lecture Theatre will be part of the revamp project, expected to begin in January 2015.
Design teams have now been invited to submit briefs for the project, although securing funding remains an important goal for the University.
Applications will close on 12 December, with the top five teams being invited to bid for the contract, which will require architectural, mechanical and electrical engineering ad structural services.
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The work is due to be finished by 2020.
A spokesman said: "The plans are likely to include the creation of a new state-of-the-art law library, the refurbishment of the Old Anatomy Lecture Theatre, one of the oldest rooms in Old College, and creating a more accessible and navigable facility ready for the contemporary demands of study and research.
The Old Anatomy Lecture Theatre is an historic part of the University.
It is the remaining part of one of the University’s biggest lecture theatres, used for students and also for public viewings of dissections.
While the refurbishment is going on, all classes and offices within the school will be relocated to other premises.
The school of law will also be totally overhauled under the proposals.
Current rector Peter McColl told the Evening News: "It’s great that they are planning to invest in this to improve the environment for students and staff, and also secure this iconic building for future generations. A high standard of accommodation is vital for the classes and learning taking place within the school."
(IT)
