The temporary ice rink that will be used while the Streatham Hub is built will be a "state-of-the art professional facility", according to Lambeth Council and Tesco.
It will be suitable for ice-hockey and figure skating, they said.
It is also understood those who currently work at the Streatham Ice Arena will have their jobs protected.
A spokesperson for Lambeth Council said while the exact specifications of the rink were not yet available, there should be no need for any team or skater currently using the rink to need to look for an alternative facility.
Streatham Ice Arena is used by national ice hockey team the Streatham Redskins, along with a number of other teams, and as a training facility for top British skaters.
It will not be knocked down before the new temporary facility, that could be operational next year, is erected.
The spokesperson said the temporary rink would include heated changing rooms with showers. The council and Tesco are looking at providing a similar temporary facility to a full size temporary arena currently in place in Cardiff.
The rink could be built on Streatham Common, subject to planning permission being given to construct the sizeable facilty on metropolitan public land.
However erecting such a sizeable structure on the park could prove controversial with some residents.
Trevor Hutton, spokesperson for Streatham ice rink campaign group Skaters 4 the Hub, said he was pleased a quality facility was being planned, and he had been given assurances by Tesco that jobs at the Streatham Ice Arena would be protected while the new one was built.
Barry Spours, director of coaching at Streatham Redskins, said if continuity of ice was provided and a temporary rink similar to Cardiff's was built, the Redskins could still operate a team, even if it meant switching stadiums mid-season.
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