The JCA/London Fashion Academy will welcome students from September, and aims to not only offer an education in the industry, but to give the next generation of designers the skillset to launch their own brands.
In a statement, Professor and designer Choo said: "The Academy has been years in planning, so we are delighted to be opening its doors this September.
“London is a global fashion hub and has created many of the world’s most exciting and ground-breaking designers.
"Rarely though do these designers leave higher education armed with the combined knowledge, skills and resources needed to create, launch and build brands successfully on the global stage.
“The Academy will help bridge those gaps and truly nurture internationally-focused and highly entrepreneurial design talent."
The institution will give 100 students the opportunity to learn about design and entrepreneurship at foundation, undergraduate and postgraduate levels.
The footwear muse - who was honoured with an Honorary Fellowship by University of the Arts London in 2009 - will be hands-on with his role.
He told Britain’s The Times newspaper: "London is still home to me, so I'll be in and out. I want to see what they're doing.
“I want to talk to them, to make sure they come to the academy to study, not because they want to be famous."
The 72-year-old designer - who was inspired by his children, Danny and Emily, to open his own college - added: "My vision for the academy is to teach them my knowledge for design, but also to have a business mind as well."