The 155-room Tamburlaine Hotel, named after a play by Corpus Christi College fellow Christopher Marlowe, will open near the city centre in spring 2017.
It is the first site in England for the Dublin-based group, which runs four hotels in Ireland, and one each in Gibraltar and Annapolis, USA.
Paul O’Callaghan, CEO of the O’Callaghan group, said: “We are incredibly excited to be opening our first hotel in England next year and especially in such a thriving and vibrant city as Cambridge.”
The Tamburlaine will feature a 150-cover brasserie-style restaurant, gym, cocktail bar, and a glass-walled wine room.
Guests will be able to order afternoon tea, champagne and cocktails in a Colonial-syle Garden Room, filled with foliage.
There will also be an on-site deli serving salads, sandwiches and roasted coffee for morning commuters to takeaway, as well as wine and charcuterie boards for evening guests.
Zac Pearse, former general manager at the Malmaison Charterhouse Square London, will join the hotel as general manager.
The family-run O’Callaghan group opened its first hotel in Dublin in 1990 and has since expanded to six hotels worldwide.